We analyze the behavior of securities such as IAG (Iberia), Telefónica, Repsol, Enagás or Grifols, with Ángel Cotera, from BBVA Trader.
We start with Aedas Homes. The value has registered very strong declines and is within a sector affected by rate hikes, “it would not be the best sector or the best company.” There is no weekly candlestick indicating a bottom on the downside. Better look for other alternatives. If it exceeds 16.06 euros, it could begin to consider a possible entry.
On IAG (Iberia), the aspect seems to want to improve. In monthly candle, in October, we see the recovery, an intention of possible bottom and strong rebound. If we switch to weekly candles, there is a possible head-to-shoulder shoulder. It continues to fight against the resistance of 1.50 euros. It is important that the movement has continuity.
Enagás has described a bullish hammer, with the intention of a possible continuity. October has been very good, he gave a strong pull from 15 to 16.46 euros. He is now facing resistance. Support at 16.35 and resistance at 17 euros.
Telefónica also registers a slight attempt to react, but the firm is weaker, it is difficult to say if it has already reached a bottom. Two weekly candles try to break upwards, it is a bounce after all the bearish projection that it carries.
Grifols does not show a clear downward trend but “it does not give us confidence”. He has to overcome the resistance of 9.45 euros. Support 7.2340 euros. “For now, we would be out.”
Repsol: looking at the candle for October, it has gone from just over 11 euros, to over 14 euros, “there is an intention to go according to the rebound that we are seeing in the market.” He is working the zone of maximums at 14 euros and it is costing him, but he has had an upward trend since September.
On Cellnex, it has reacted in October with a hammer figure, with bullish intention. Support at 31 euros. Highs at 33.64 euros would be his first resistance. It seems that he is gaining strength.