The IBEX 35 has achieved at the beginning of the week stay out of the selling pressure that plagues most indexes before the possible overvaluation of artificial intelligence companies that this week put on the table the irruption of China Depseek. The Spanish selective, in fact, quotes closer than in the last days of the resistance that has been limiting its promotions this January.
“I would be quieter if the IBEX 35 managed to beat the 12-12,150 pointswhich would cancel the possibility that a pattern can be confirmed well in the form of Head and shoulders or a double roof“says Joan Cabrero, technical analyst and strategist ECOTRADER.
It is the maximums of last year, and its reach now arresses more feasible for the Spanish selective in the absence of companies specifically dedicated to the manufacture of chips or linked – although it is minimally – to artificial intelligence. This behavior would allow the Spanish index, in addition, Culing the gap that the rest of the large European stock markets have opened since January 1which has exceeded 4 percentage points at specific times of the year.
“A much more attractive profitability-risgo”
The unexpected turn in the development of artificial intelligence (AI) that has starred Depseek, a Chinese AI startup, has shaken the half -world bags, including European. In fact, in the continental market the descents have been preceded by a technical movement that starred the Eurostoxx 50 last Friday and that has already suggested a Mild exhaustion in purchases.
It is a candle -shaped candle which could be the prelude to a necessary consolidation process to assimilate the recent and pronounced increases.
“In this context, I consider that Eurostoxx 50 has margin to develop a classic Throw Back towards the old resistance, now turned into support, of The 5,000-5,050 points“, says Cabrero, while ensuring that this setback would be,” an excellent opportunity to increase exposure to European stock market, since it would offer a much more attractive profitability-risgo equation than what we saw last week. As I always tell them: No one escapes here!“
Fear will panic if Nasdaq falls 5% more
The flight of technology investors has especially damaged to the par excellence index of these companies in Wall Street: Nasdaq 100. The selective Tech gave up to 3% despite having half of its signatures quoting positively. Marvell Technology and Broadcom saw 16% and 12.5% diminish, respectively. For its part, the most prominent chips producer in the world, Nvidia, fell 16.3%, which led to its stock market capitalization to suffer the greatest capital leak in the entire history of Nasdaq as pointed out Bloomberg. And, at the end of the day he had yielded 592,000 million dollars, thus ceasing to be the largest quoted on the planet as it had been until yesterday and staying behind in that sense of Apple and Microsoft.
The first scare From the year, for the moment, he has only reached technology and has not yet panicked. Ecotrader’s analyst and strategist, Joan Cabrero, explains that “Trump hole maintenance can be the difference to avoid a possible greater fall“, which is the area in which the reference selective on Wall Street just before Donald Trump’s electoral victory.
Cabrero points out that the index “opened the Trump hole, on November 6, falling to 20,225 points,” but “For the NASDAQ to show some exhaustion symptom should close below 20,200 points. If this occurs, we could attend a fall similar to that of July and August of last year, which could take Nasdaq to look for the 18,600 points, a 10%route, “the analyst warns. With respect to the S&P 500, it was not saved either of the red In its price, showing a decrease of 1.8% at the end of the European session.
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