Saturday, March 25

Santander loses the average of 200 sessions, how far can it fall?

Within the IBEX 35 today we see falls for Banco Santander, which at this time reach 1.54%, at 3.098 euros. The bank will present accounts this Wednesday, February 2. In the last four weeks, the estimate of earnings per share increased by 11.11% from 0.11 euros. Estimates ranged from a high of €0.12 to a low of €0.9. There are 5 analysts who recommend “strong buy” for Santander shares, 10 “buy”, 12 “hold”, 1 “sell” and 0 “strong sell”.

On the other hand, the Official State Gazette (BOE) has published this Monday the sanction of one million euros that the Council of Ministers agreed to impose on Banco Santander on May 24, 2019 for the commission of a very serious offense provided for in the money laundering law committed by Banco Popular between 2013 and 2015.

After the Supreme Court ratified said fine last December and the agreement of the Council of Ministers being already final, the Secretariat of the Commission for the Prevention of Money Laundering and Monetary Offenses has proceeded to publish said agreement.

On a technical level, the value is losing the average of 200 sessions on the daily chart, explains the analyst Mónica Triana.

Although there is a long session ahead, if the loss of the 200 average is confirmed, we would have to monitor the area between 3.04 and 3 euros as control levels. “It’s always an important level for this stock and if it were to lose it, the declines could get worse.”

Check here the technical indicators of Investment Strategies for Banco Santander.