Banco Santander: Bullish in 2020. Investment opportunity.

The bank like the industry as a whole is on a long term bearish trend since the pre subprime mortgage crisis in 2007. On the 1W chart we see a clear bearish curve (RSI = 42.379, MACD = -0.083, ADX = 31.053, Highs/Lows = -0.0432) with Lower Highs and 3.1000 as the Support.

Since 2009, once the price crosses the 1W MA200 (orange line) SAN becomes a long term Sell opportunity. At the moment the RSI fractal is posting a bottom sequence and since we are that close to the 3.1000 Support we are turning bullish on Santander for the year and will sell once we cross the 1W MA200.






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