Hi
noticie how this bank on spain bounce each time at fib 0.618 , we are in forming a giant symetrical triangle , expect price go up to 6.6 a and i will open a short position with tight stoploss , swimg trade.
Have fun
Whisperer92
BBVA - 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 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.
Taking 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 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...
The share price has been 37 weeks on a lateral trend. It seems the bulls are gaining momentum and a visit to the €7.95 level is more than likely. A strong support can be found in 7€. I am LONG. Targets at: €7.95, €8.28 and a final €9.35.
Good luck fellow traders
Esperemos que se apoye en los 6,06 y tire para arriba llegando casi hasta los 7 ( posible IBEX 10.200 ). Si no fuese así buscaría los 5,70 ( Posible IBEX 9.000 ).
Veremos como le afecta la huelga de estibadores, el frexit y otros que nos viene encima...
Interesting chart here. Almost looks like basing out as a cup & handle or an awkward bull flag. Regardless wouldn't call it a textbook pattern by any means, but I've had past success with similar patterns. Big key here is the stock price is still above the 20-55day EMA's and is consolidating rather nicely right here. I'd like to see a strong volume push to $7.00...
