The price of caixabank a recovery began in mid-JUL 2022, after forming a throwback to the previous resistance level of 2,743 euros, coinciding with the simple moving average of 200 periods or long term.
This recovery took place in the form of a short-term black bullish channel, which violated the upper side of the channel and we reached the bullish objective quickly.
The market has not yet managed to exceed the annual maximum of 3,641 euros. To have a signal of strength, it is necessary for us to break above the 3.641 euro level on a daily close and on a weekly close, to confirm the resumption of the structure of ascending lows and highs in the background.
In the short term, it is describing a potential figure of a double top indicated in gray, at the opening of today, SEP 21, we have violated the critical point at 3,484 euros, reaching a price below 3,482 euros, validating said figure.
Breaking through the critical point, 3,484 euros, allows us to estimate a minimum theoretical target towards levels of 3,348 euros per share.
There are two gaps that we could go to cover: the gap of SEP 8 at 3,213 euros and the gap of SEP 7, at 3,024 euros per share.
The following supports are located at: (1) the 40 and 200-period simple moving averages, (2) the previous high low of €2,845, (3) the support area of €2,743 / €2,636, (4) the uptrend lines long-term in fuchsia and (5) key support at the lows of MAR 7, at 2,333 euros per share.
The MACD oscillator has purged the excesses of overselling and is reaching levels close to overbought after reaching the yearly maximum area, with which we could have a correction in the coming sessions.
CaixaBank on daily chart with Average Amplitude Range in percentage, MACD oscillator and trading volume
CaixaBank on daily chart with Average Amplitude Range in percentage, MACD oscillator and trading volume
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