Banks are being the protagonists of the year due to rate hikes; to the entities of IBEX 35in particular to Bankinter Y CaixaBankespecially benefiting from the rise in rates by the European Central Bank (ECB), but their positive prospects are being clouded by the shadow of recession.
On a technical level, Bankinter shows a hammer figure in Friday’s session, which has not been validated, according to Ramón Bermejo, market strategist. A bearish element would be to invalidate it, for which it must register a level of 5,817 euros. For now, in the middle session it rises 0.14% to 5.916 euros. In addition, if it registers a level of 5,805 euros, it has a risk of falling by just over 6%, to 5,520 euros.
You also have to watch the value because it was describing a head-shoulder figure and it has not exceeded the level of the right shoulder, so it is still within what could be a triple top figure or a bearish head-shoulder figure.
Also keep in mind that this week Bankinter pays a dividend to its shareholders:
In the case of CaixaBank, “would be in a similar situation” and also shows that possibility of double maximum. She has a head to shoulder figure, she has not broken above the head level and if she closes below €3,368 she is at double top risk and may continue to fall.
For Bankinterthe analyst consensus that follows the value gives it a buy advice and a target price of 6.68 euros, which represents a potential of almost 13% from current prices.
In the case of CaixaBankalso has a buy advice from analysts, who give it a target price of 3.96 euros, with a potential appreciation of almost 15%.