Tuesday, July 5

Banco Santander: This is the level of support that you must respect

We take a look at how the banking sector begins the year and we look specifically at Banco Santander. “It is true that the banks have not obtained the good behavior that would have been expected in 2021, but there are factors, such as that the yields of the bonds have not finally been so high throughout the year that have influenced this burden,” he says José Luis Herrera, analyst at BiG. In any case It is a sector that is starting the year well, at least in Europe.

At a technical level for Banco Santander, there is a clear support zone at levels of 2.65 euros, which should be respected to think about a continuity of the rises.

And there is a resistance zone, as we see in the graph, in the range in which it was in 2019, which during 2021 has been a clear resistance, between 3.50 and 4 euros. “It would not be ruled out to see the bank during the year in that resistance range.”

Check the technical indicators of Banco Santander by clicking here.


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