In the throes of yet another monthly and quarterly close like the one the stock markets are facing this week, the enthusiasm and optimism of the bulls has become widespread across the markets. Especially in the short term, the EuroStoxx 50 exceeded the key resistance of 5,000 points and the Nasdaq 100 did the same with 20,000 points. “The photo is clearly optimistic“, says Joan Cabrero, technical analyst and strategist at Ecotrader.
This suggests that any correction in stock markets will likely be temporary, without falling below the September lows, which in the case of the EuroStoxx 50 are at 4,732 points and on the Nasdaq 100 in 18,400 integersexplains the expert.
“If this correction occurs, I recommend taking advantage of the opportunity to buy, establishing an aggressive stop at these minimums,” he specifies, emphasizing that as long as this level is not exceeded, there is no has no reason to reduce exposure to the stock market.
“If you want to optimize your strategies, or as I colloquially call surfthey can consider taking partial profits and repurchasing at lower levels, but in no case completely closing their positions,” he explains in his weekly strategic commentary in which he urges the investor to learn to profit and earn.
The Ibex 35, for its part, will not show any signs of deterioration in the very short term and will keep its bullish possibilities intact as long as it does not lose the support of the stock market. 11,792 points. If it closes below this level, I think we could see a pullback to seek support at the old resistance zone of 11,465 points.
“A fall towards the 11,465 and in the worst case, 11,140 pointswhich are the September lows, I would see an opportunity to buy the Spanish stock market again without as much overbought as today,” says Cabrero.
