Buy with close StopLossThis could be the end of the Bearish movement. Wait for the Weekly closing to confirm.
Sabadelllong
Sabadell swinging around. Will June 15 be its last swing?Sabadell is undervalued with respect to its books. Target Price set at 0.20€ with error margin of 10% (down to 0.18€ level), being it 0.13 times its book value. Expecting to reach it on June 8 and from there, launching a 50-60% pull-back until June 16. After that, hostile territory. It can either correct downwards or take off up to 0.4-0.47 level.
Sabadell touched lower bound of bullish channel from Aug 14Interesting performance of the bank. Spanish socialist-left political environment, Brexit and IRPH trial results to be known either next week or the first of February may affect negatively the company. However, in June 2019 news of Sabadell reducing its exposition -43% to IRPH and expecting an impact of €800 million instead of €1,600 million from Bankia or €6,446 million from Caixabank and in January 3rd 2020 news about Sabadell transforming its first dividend payment into distribution autoportfolio shares may affect positively the company. So what can we say? Well, looking at its technical behavior, if it breaks through 0.9246 we might experience a sharp fall towards 0.83 level. If it doesn break, we could go to 1.20€ but these would be levels from 2018 and there is a big resistance around 1.06€.
