The dichotomy that investors face in the Ibex 35 It’s getting more and more interesting. On the one hand, the Spanish selective continues to be able to maintain the key support of the 11,300 pointswhich is the dividing line that separates a consolidative context prior to more increases from a potentially bearish corrective one towards the 10,300 points.
However, on the other hand, it is striking that he has not yet managed to break the roof of the lateral process that he has been developing in recent weeks. A level that is at last year’s highs and that, as explained by Joan Cabrero, technical analyst and strategist at ecotraderthey have achieved the rest of the major selections of the Old Continent.
“I would be calmer if the Ibex 35 managed to beat 12-12,150 points in this rise.which would cancel the possibility that a pattern in the form of head and shoulders or a double roof“says Cabrero. “This week we will have to see if these doubts have been a simple temporary weakness or not,” he says.
‘Don’t ring the bells’
In Europe, the EuroStoxx 50 is recovering lost ground in 2024. In the few three weeks that 2025 accumulates, It is already advancing a little more than 5% and returning to the maximum levels of the year 2000. This rise makes it, in fact, one of the most bullish selective among the main ones in the world, surpassing, for the moment, the behavior of Wall Street (the S&P 500 achieves increases of around 2%, after advancing somewhat more in 2024 of 23%).
However, not everything is joy. This figure means having eaten more than 70% of the expected profitability expected for 2025.. At the end of last year, experts expected the continental index to close the current year with increases of 7.4% (calculated through the inverse of the PER, times the profit is reflected in the share price). After the gains already achieved, this would mean that the EuroStoxx would only have to register slight increases of 1% in the remaining 11 months of the year. The key will be how the benefits evolve.
A but to which is added the fact that the EuroSrtoxx 50 in its Total Return version has not yet exceeded the highs of 2024, for which it should beat the resistance of the 12,000 integers.
“This is something that should happen in future sessions. and while it doesn’t happen I will have the fly behind the ear“says Cabrero, who reassures the investor by ensuring that there will be no signs of buyer exhaustion that will put the bullish trend in check as long as an eventual cut does not lead the EuroStoxx 50 to lose the December lows of 4,800 points.
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