The technical figure Channel Up can be found in the daily chart in the Spanish company CaixaBank, S.A. (CABK.mc). CaixaBank, S.A. is a Spanish multinational financial services company. It is Spain's third-largest lender by market value, after Banco Santander and BBVA. CaixaBank has 5,397 branches to serve its 15.8 million customers and has the most extensive...
The technical figure Triangle can be found in the daily chart of the Spanish company CaixaBank, S.A. (CABK.mc). CaixaBank, S.A., is a Spanish multinational financial services company. It is Spain's third-largest lender by market value, after Banco Santander and BBVA. CaixaBank has 5,397 branches to serve its 15.8 million customers, and has the most extensive...
If so, the stock could jump 4% tomorrow. It has been clearly oversold up until Fibonacci retracement level 0.5. Do not expect a trend change if tomorrow's results are better than expected.
Bat pattern spotted in CABK + Elliot Waves finished at (E) may set continuation to 1.80€. Bankia won 64% less YoY.
But good earnings (or better than expected) may lead the stock price straight to 2.20-2.30.
The bank's results are due on July 24th. JP Morgan and Wells Fargo saw sharp declines on profits (-51% and -71% respectively) yesterday and I expect Spanish banks will be unable to avoid them too. Besides, CABK has been the bank who's best performed in the short-term post-covid era, so we could expect bigger downward corrections than those in Santander or BBVA...
The situation in Catalunya seems to return slowly to the normality, and so CaixaBank, going up to touch 4.51 first and then towards the historical maximum of 5.
Stay tuned!
Caixabank has broken a prolonged uptrend. First target for our short strategy at 3.45-3.50, which represents a 38.2% FIBO retracement. All indicators are confirming our view as well.
European Banking scenario is quite unstable and untrusted. If the crisis situation on the EU zone wasn't enough add breixt to that. This bank Caixabank (CABKE) is actually catalan bank, where and independency process is taking place. If that will take place in fact is somethong nobody know right now. But this is another element of turbulence.
Despite of that....
