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MarketScreener Homepage  >  Indexes  >  BME  >  IBEX 35    IB   ES0SI0000005

IBEX 35

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A rather chilly summer on the stock market

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Mid-term Analysis published on 08/27/2019 | 05:03am

In the stock market, the Spanish summer did not allow the thermometer to climb as high as on the iberian beaches. Over the past two months, Ibex has lost 6.3%, which reduces its 2019 performance to 1.6%, far behind more international markets such as Frankfurt or Paris.
Most of the 35 components of the index are in a negative configuration, except for the two stocks that dominate the annual ranking. First of all, Cellnex Telecom (telecom infrastructure), which gained 10% over the summer period, bringing its overall lead to 72%.
Also completing a qualitative year, Ferrovial (BTP) grew by 12% over the same reference period, thus accumulating 44% since January. On the other hand, the banking sector is filling the index with generalised declines such as Bankia, Caixabank, which exceed 20% loss.

Graphically, in daily data, prices remain under technical pressure. The dropout from the 8870-point zone brought the courses to the lower 8360-point line. The movement was, moreover, valid by a pullback on the old support which became resistance. The danger would be obvious under 8360 points with a downward target of 7650 points. On the other hand, a recovery beyond 9040 points would neutralize the trend, but this scenario is not privileged at this stage of the configuration.


Patrick Rejaunier
© Zonebourse.com 2019
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Chart IBEX 35
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IBEX 35 Technical Analysis Chart | MarketScreener
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Top / Flop IBEX 35
BANCO DE SABADELL, S.A. 0.912 End-of-day quote.7.80%
CAIXABANK, S.A. 2.404 End-of-day quote.7.27%
ENCE ENERGIA Y CELULOSA 3.706 End-of-day quote.4.87%
BANKIA, SA 1.764 End-of-day quote.3.73%
BANKINTER 6.092 End-of-day quote.3.61%
IBERDROLA 9.21 End-of-day quote.-1.05%
ACS, ACTIVIDADES DE CONSTRUCCION Y SERVICIOS, S.A. 36.08 End-of-day quote.-1.12%
RED ELÉCTRICA DE ESPAÑA 18.06 End-of-day quote.-1.50%
GRIFOLS 27.1 End-of-day quote.-1.81%
NATURGY ENERGY GROUP 23 End-of-day quote.-2.04%
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