Technical analysis: Sabadell, Bankinter, CaixaBank, Inditex, Amazon, bitcoin, Viscofan…

Here are the stocks we were asked the most about this morning. Cesar Nuez, technical analyst at Bolsamanía, focuses on the Nasdaq, Bankinter, CaixaBank, Sabadell, Inditex, Amazon, bitcoin and Viscofan.

Angel V. Hello Mr. Nuez, how do you see the technical aspect of Sabadell and Bankinter for the next few weeks? and for this year? Thanks.

Hello my angel. The technical aspect of Sabadell is very good. The bank has gained almost 15% since the start of the year. However, the high levels of overbought make us think about the possibility of lower prices. start of correction. This Tuesday, we are witnessing the abandonment of the short-term support at 0.9710 euros. For the next few days, it is very likely that it will try to cover the bullish gap left on January 6 at 0.9520 euros. If it fails to hold at these prices, it is likely that we could see an extension of the short-term decline to the $0.90 level. We should take advantage of any profit taking to enter the stock as we believe 2023 will be a good year for banks.


Bankinter formed a bearish engulfing pattern last Wednesday. Subsequent declines confirm the beginning of a correction by the bank which could extend to around 6.20 euros.. At these prices is the bullish gap left at the beginning of the year and the prices where it is most likely that we will end up seeing the return of the purchases. Its medium and long-term trend is impeccable, so the most normal thing is that the gains continue in the medium term.. Keep in mind that it is in a free uptrend, which is certainly reminiscent of the current buying strength.


Pablo P. Congratulations on your section, which is particularly useful to me. I would like you to give me your opinion on two Ibex stocks: CaixaBank and Inditex. Cheers.

Hello Paul. CaixaBank entered 2023 with a strong improvement in its technical outlook. The bank managed to break above the 3.75 Euro resistance and today we don’t see any signs of weakness that would lead us to think of a breakout. The company could be shaping a a pennant, a pattern that has strong bullish implications.. The absence of resistance in its path could lead us to think in a extension of earnings up to the level of 4.20 euros. in the coming weeks. We won’t see any technical complications as long as it holds above EUR 3.60, the first level of significant support.


As for InditexInditex dramatically improved its mid- to long-term price series by breaking through resistance at 25.56 euros. The textile company managed to climb well above the average of 200 sessions, confirm a change in trend. However, we don’t think now is the best time to take an interest in the company. The strong increases of 10% recorded so far in 2023 urge us to be cautious. The most likely scenario is that it will eventually… take a break that could bring its share price around the support level of 25.60 euros.. At these prices we could be interested in the company, and it seems quite likely that in the course of 2023 we could see an attack on the historical highs that it presents at around 31 euros.


Julian N. Hello. I would be very grateful if you could give me your expert opinion on bitcoin and Amazon, do you think they could recover this year? Thanks.

Hello Julian. The website bitcoin has rallied strongly in recent sessions. The cryptocurrency has rallied nearly 30% year-to-date, pushing it above the near-term resistance of $17,680. The bullish gap left in the last session, as well as the proximity of the resistance at $21,410 and the 200 session average, encourage us to be cautious in the short term.. We must not forget that its trend is strongly bearish and will remain so as long as it continues to trade below $25,000, which is very far from the current price. Despite the euphoria of recent sessions, caution should be exercised.


Amazon is in the midst of a short-term rebound. The company managed to overcome short-term resistance at $97.23. This confirms the start of a rebound that could extend to the tops of the bearish gap left at $110.96. At these prices, it is the average of 200 sessions. Until it manages to break above these prices, I will not consider a change in the trend of the Nasdaq company.


Hugo M. Nice to meet you Don César. I have shares of Viscofan and I would like to hold them for at least this year, how do you see them and could you also give me your opinion on the Nasdaq? Thank you and good day.

Hello Hugo. Nice to greet you. Viscofan retains a good technical aspect despite the crashes of the last few days. The company could be shaping a return to 59 euros, so at these prices it is very likely that we could see the return of purchases.. The key resistance is located at 63 euros. A close above these prices would be the signal that would leave the company free climbing and lead us to think about an extension of the bulls to the level of 70 euros. I would hold equities because, after a healthy correction, they are very likely to continue their ascent.


The website Nasdaq managed to hold close to last year’s lows, which it hit in the final months of 2022. The index has managed to hold at these levels for up to three times and now looks set to attack the key resistance at 12,166 points. We are watching this price level closely as we may end up seeing a change in trend and an extension of the bulls towards the highs of the bearish gap left on September 13 at 12,739 points.



Note: Investment decisions should be made responsibly and with awareness of the risks involved. Vortex Solutions accepts no responsibility for the content and analysis of this advice. Please note that trading in the stock market involves a high degree of risk and involves constant monitoring of the position.

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