The Ibex 35 starts the week Cross the 11,250 point markwhich formed its previous resistance, a level that will have to consolidate to continue to progress, even if the probability of profit taking is high. If we focus our attention on its members, the behavior of Repsol shares stands out, as they progress driven by the rebound that is occurring in oil.
In the last few sessions there has been a significant upward reaction in oil price key support areas. Brent crude oil rebounded from $76 a barrel, which has allowed the commodity to gain more than 5% over the past three sessions, approaching $80.
For its part, American crude oil, or West Texas, maintained a very similar behavioradvancing from the area near $72 and revaluing by almost the same percentage.
[Consulte aquí las claves operativas del Ibex 35, según el analista Eduardo Bolinches]
For its part, Repsol is continuing its policy of remunerating shareholders and announced at the end of July a second share buyback program and a capital reduction through the amortization of 20 million own shares for the second half of this year. In this sense, the company will distribute 0.975 euros gross per share to its shareholders in 2025which represents more than 8% compared to 2024.
From a technical point of view, it is necessary to consider the maximums that Repsol shares reached during the month of April in the area of 15.67 euros, which caused a significant drop of more than 18% in its stock market value and this led the value to reach 12.18 euros. This area constitutes the lowest of this month of August, reached after breaking through the key support it had at 12.46 euros.
Evolution of Repsol shares
Commercial view
This support, which also occurred between late 2023 and early 2024, was quickly recovered, leading the value to facing significant resistance at 12.90 eurosThis is exactly where its stock price appears to be heading.
Taking into account the proportional Fibonacci retracement in this significant decline, we observe that the first resistance, which is not too strong, is located in the area of 13 euros (23.60% of this proportionality), and above, a new intermediate horizontal resistance at 13.32 euros. These levels are what we should consider your first and second short-term goals.
[La cartera de acciones de Eduardo Bolinches para la sesión de hoy]
Overbought levels are not yet very high, which increases the chances of recovery short-term value. In addition, medium and long-term moving averages do not represent an obstacle since they are quite far from the current stock price.
Therefore, if we already have Repsol shares in our portfolio, the most sensible thing would be to keep them. For new additions, we will wait for the value exceed 12.90 euros to make purchases with the above mentioned objectives and a protection order of maximum 3% of our entry price.
