He Ibex 35 has achieved in the last few hours dodge another bullet. Despite the doubts that have appeared in the mood of investors this week given the new signs indicating that the efforts of the Chinese government to support its weakened economy continue without bearing fruit, the Spanish selective was able to add a new session closing above the lows of the day before. , and they already are. twenty consecutive times he has succeeded.
The sequence of ascending days which links the Ibex 35 In recent weeks, it has in fact become one of the market’s focal points.
And the fact is that “as soon as we detect that this series is canceled and there is a session that loses the lows of the day before at its closing, the last ones at 11,337 pointseverything will indicate that a short-term ceiling has been observed and the risk of seeing a correction process of part of the strong rise that began on August 5 from 10,298 points and that led the Ibex 35 to recover would increase throughout the decline compared to the peaks established in June at 11,469 points,” explains Joan Cabrero, technical analyst and strategist at Eco-retailer.
The strength shown in this rebound of the Spanish selective has meant that the Ibex 35 is now just one step away from its annual maximum and its dividend version is trading at its highest levels ever.
In this sense, Cabrero explains that it is likely that the highest levels of the year will be exceeded soon, before the exhaustion of buyers occurs. “For this reason,” explains the expert, “I suggest Don’t get too upset if you read headlines that the Spanish stock market has hit new highs for the year…“.
“I am not suggesting that you attack prices; sooner or later our joy will be quarantined and that is when the Spanish stock market will have to rise, not now in the midst of a whirlwind of purchases. Until there is a decline between 11,000 and 10,850 points, I do not plan to buy more Spanish stocks.“, says the director of strategy of eco-merchant.
