The publication of the names of certain candidates of the President-elect of the United States, Donald Trump, to occupy key positions in his government, fuels the nervousness of the stock markets in recent hours due to the fear that the tycoon will complete his cabinet of command with people determined to fully realize the electoral program presented during the campaign concerning borders, trade, national security and economy.
In this context, the Ibex 35 continues to lose positions in the short term. And even more so after losing the support at 11,560/11,600 points mid-last week, which was the low end of the side that had limited consolidation over the past few months.
“It was anything but optimistic and I never tire of repeating it since,” reiterates Joan Cabrero, technical analyst and strategist at Ecotrader, who recalls that The threat is that we see greater consolidation who could look in the worst case for the 10,900/11,000 points.
However, bullish hope passes through the intermediate support of the 11,138 points of the national selection. These are September lows and their reach and subsequent rebound from this environment is one of the hopes bulls have in the index today. “It can stop the fall,” Cabrero says.
In fact, the expert emphasizes that once this level is reached, “I would be in favor of buying the Spanish stock market again; if this decline were to take shape, I would take the opportunity to buy Christmas gifts since among the 10,900/11,138 points “The uptrend that has guided increases since 2022 lows.”
Europe, a more attractive risk/return equation
In Europe, the situation is similar. The EuroStoxx 50 accentuates its declines after breaking the support of 4,900/4,870 pointsand is getting closer and closer to the September minimum area around 4,730 points.
“The good news is that reaching this zone of the September lows at 4,730 points and especially 4,675/4,700 points (adjustment of 61.80/66% of the increase compared to the August lows), I see it as an opportunity to buy the European stock market again with a much more attractive risk/return equation than a few weeks ago,” says Cabrero. And “there will be no weakness and I will not recommend drastically reducing exposure to the European stock market until the EuroStoxx 50 loses the August lows.” 4,470 points“.
