The 15-month highs of the Ibex 35 are an opportunity in these values
The New York Times reported Thursday that the US president Joe Biden Aims for $ 6 Trillion Federal Spending Volume by Fiscal Year 2022, the day before the White House reveals its budget proposal, reinforcing the confidence of some markets that this week breathed relief after the reassuring statements of members of the Fed on the inflation outlook.
A Reuters poll of some 300 analysts showed that most expect global stocks to continue rising this year thanks to the strong economic recovery and corporate results, although any acceleration in inflation would dampen investor enthusiasm.
The Ibex 35 is very close to its 15-month highs. The 9,208.7 points of last Tuesday represent a before and after with respect to the falls that were experienced in 2020. How far can the selective go? The 9,314 points are a first resistance to take into account and the 9,411 points would also be an area to watch.
What are those values that are within the reach of 12-month highs? In the case of Iberdrola, it is the only one of the Ibex 35 majors that has fallen back in recent weeks after having reached all-time highs in January at 12.39 euros per share. It has a first resistance at 11.74 euros, which it achieved in April and in the coming weeks it will try to return to those figures. But beyond the great values there are also opportunities and companies that could bring joy to investors in the second half of the year, at which time analysts expect the European economy to rebound faster thanks to the massive vaccination of the population.
Enagás has its 12-month highs at 21.53 euros from the current 19.20 euros, so an acceleration of the Ibex 35 could mean the achievement of those levels, Endesa at 24.40 euros from 23.49 of this Thursday, Ferrovial is trading at 23.83 and 25.80 euros are key, IAG (Iberia) at 2.35 and has marked 2.48 euros, Red Eléctrica is trading at 16.4 euros and 17 euros are a resistance to beating.
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On the other hand, there are five actions that almost all analysts advise. Shares that have a buy recommendation higher than 75%, according to the consensus of Reuters analysts. These companies are Cellnex, ArcelorMittal, ACS, Acerinox and Endesa. Likewise, ACS has a potential revaluation of 28.3% to 32.79 euros per share, Cellnex of 21.5% to 60.72 euros per share, Acerinox of 13% to 13.11 euros per share, Endesa with 12% and ArcelorMittal with 8.5%.
At a technical level, there are stocks that are also at an optimal entry point due to the levels at which they trade, their volume and their volatility. These securities are Cellnex, IAG, MERLIN Properties, Viscofan, Endesa and Red Eléctrica. Actions all of them with a great short-term technical moment and that should be taken into account when trading a couple of sessions, according to the results shown this Tuesday Investment Strategy Trading Machine.
The director of analysis of Investment Strategies, Luis Francisco Ruiz, for his part, highlights the media sector and especially Atresmedia and Vocento. According to him, the media listed on the Spanish stock market are turning to the upside and are beginning to break the very long-term bearish guidelines. We focus on those who receive positive valuations from a fundamental point of view (they are solvent and have the capacity for growth) and whose shares are trading at a discount and are trending upward with our quantitative indicators.
At a fundamental level, the Investment Strategies analyst María Mira highlights the latest results presented by Telefónica, one of the heavyweights of the Ibex 35. “Accounts improve with higher profits and better margins. Income and OIBDA moderate the fall and debt contracts. The operator’s strategic reorientation is proving successful and the business performance is expected to be more positive from the second quarter. Analysis, perspectives, forecasts, valuation and recommendation for Telefónica securities ”, he argues.
Wall Street prepares its assault on bitcoin
All this while bitcoin continues to generate headlines and a lot of expectation. So much so that Wall Street ‘gurus’ who until now had not been in favor of investing in the main cryptocurrency are now considering whether to start incorporating these assets into their portfolios. The world’s largest fund manager Blackrock, and famous investors Carl Icahn and Ray Dalio are already thinking about how to enter the cryptocurrency market.
As Icahn and Dalio study bitcoin, the even more well-known American investor Warren Buffett announced this week that five companies are selling through Berkshire Hathaway. Companies like Merck, Sirius XM Hldgs, AbbVie, General Motors or Bristol-Myers Squibb.
According to Ruiz, the collapse of bitcoin “does not damage the primary bullish structure, it allows the purging of excesses and signs of capitulation appear (oversold, volume and soaring volatility). The bull fund can be granted an opportunity as long as it is understood that we are facing an alternative asset with very high volatility and that the size of the position within our portfolio should be residual ”.
Ruiz also analyzes the situation of the oil market. “The fundamentals of the oil market have not changed and producers are taking advantage of current prices to hedge. Speculators account for 1 in 3 open positions in derivatives markets and a correction can lead to a “long closing,” he says.
