BOY trade ideas
BBVA Approaching Support, Potential Bounce!BBVA is approaching its support at 4.551 (61.8% Fibonacci extension, horizontal swing low support) where it could potentially bounce to its resistance at 4.832 (50% Fibonacci retracement, horizontal swing high resistance).
Stochastic (89, 5, 3) is approaching its support at 5.3% where a corresponding bounce could occur.
BBVA Approaching Support, Potential Bounce!BBVA is approaching its support at 4.551 (61.8% Fibonacci extension, horizontal swing low support) where it could potentially rise to its resistance at 4.832 (50% Fibonacci retracement, horizontal pullback resistance).
Stochastic (89, 5, 3) is approaching its support at 2.91% where a corresponding bounce could occur.
BBVA -Long Opportiunity- By Abdolreza SadreddiniBBVA - Banco Bilbao has very good potential for long term profit if bounce back and close a daily candle above $6.80.
Obviously, the stop loss would be set under knee the lowest point and TP will be over $25.00 in long time.
Setting a buy stop at $6.80 would be a smart move.
Market Report by Abdolreza Sadreddini
BBVA- short now while you still canBBVA has finally confirmed the bottom of the bear flag as resistance. This will provoke some vicious selling short term. The target still remains 5-5.1. we may get a small bounce from there as 5.00 is a big even number, but the full potential of correction is 4.7, which connects the last 3 lows of 2009, 2012 and 2016.
BBVA Bear FlagTaking a look at the 4h chart we see that the price action has found resistance at the 50 Ema as it crosses the flag formation. From here we should test the bottom of the bear flag, if support isn't found there, intense selling will occur taking the price action to the target of 5-5.1.
BBVA is BBVA is making an inverse cup and handle formation, If this pattern plays out, we should expect to reach the 4.7 target around september-october where the rising support trendline (in black) is. This trend line has been spot on on giving targets, it connects the 3 lows from 2009, 2012 and 2016. There has also been a recent bear flag which projects a target at 5-5.1. We might get a small rally from there, although I believe 4.7 will be eventually reached.
