“The Spanish bank is in free up”: the Ibex 35 touches the 14,000 points. Gerardo Ortega
Gerardo Ortega, chief analyst in Trive, analyzes the behavior of Ibex 35 that touches the 14,000 points. It highlights the opening of a bullish hole as a key to sustaining stock recovery. Despite geopolitical uncertainty and tensions between Iran and Israel, the market has reacted strongly, especially if the current hole is maintained without being closed.
Ortega points to the financial sector as the main engine of the increases in Europe. BBVA, Santander, Sabadell, CaixaBank, Bankinter and Unicaja are in a clearly bullish trend Ortega emphasizes that as long as the banks do not “face the knee”, European stock markets will remain firm. BBVA's strategic interest also highlights by Sabadell.
Last week there was a rupture of supports in European indexes such as Dax and Eurostoxx. However, this week's uprising opening can mark the end of the correction, generating opportunities for long short -term positions in trading.
Ortega also addresses the impact of the presentation of the first Tesla Robotaxis fleet in Texas. Ortega comments that, despite volatility, Tesla continues to show a bullish technical behavior. The key zone is at $ 210: if it is maintained above, it would look for maximums. In the long term, the monthly chart suggests solid recovery.
Between geopolitical tensions, macroeconomic data and technological novelties, markets continue to show strength. Gerardo Ortega recommends focusing on the practical: following the price action, detecting entry opportunities and not being dragged by informative noise.
