Monday, May 16

CaixaBank: This is the bullish potential that the value has

Banks are in a positive moment right now, given the prospect of a rate hike by the Federal Reserve and later by the European Central Bank. If we look at CaixaBank, the stock is trying to recover above yesterday’s closing price, explains the independent analyst Ramón Bermejo. “This fall could be circumstantial, we are going to watch if the market can try new recoveries”.

According to the analyst, it is normal that we have a correction in CaixaBank and the resistance level of 2,895 euros is not violated in the second attempt, but manages to overcome it in the third attempt.

At a technical level, in a monthly series, we see that the value shows an inverted head-shoulder figure and the theoretical objective for splitting the channel shown on the chart would be to recover more than 18% to 3.376 euros. The next target would be 3,779 euros.

Check here the technical indicators of Investment Strategies for CaixaBank and access updated trading strategies and analysis of indices and securities in our professional trading service.