Thursday, October 6

Santander has not yet shown any bearish element

Banco Santander will end the year with a rise in the stock market of close to 15%, which, although it is a positive balance, is far from the 30% of BBVA, 40% of Bankinter and the generous 67% of Banco Sabadell. Caixabank will be behind, but closely following it, with a rise of just over 15%.

At a technical level, Santander still has not shown any bearish elements. “What we are waiting for is that we go to look for 2.9825 euros,” explains analyst Ramón Bermejo, which is the minimum theoretical objective of the double-minimum pattern, as can be seen in the graph.

The analyst points out that the value graph shows an impulsive pattern, which indicates that the market could recover up to the gap at 3.0555 euros. “A very positive sign in today’s session would be to violate the maximum of yesterday’s session, 2.9370 euros, which is crossed 2.9375 euros“.

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