Medium term view - BANCO SANTANDER : The bullish gap opened as prices break out of the pattern announces a rally.
Our previous opinion was neutral.We turn bullish with a target at 5,14 € and an invalidation level at 3,71 €.
The bearish trend may be reversing to bullish.
Arguments :
- The resistance has been passed.
- The bullish gap opened as prices break out of the pattern announces...
Banco Santander is a holding company, providing a range of financial products. Co.'s products and services include: retail banking business that covers all customer banking businesses; wholesale banking business; as well as asset management and insurance business. Co.'s principal operations are in Spain, the U.K., Portugal, Germany, Italy and Latin America. As of Dec 31 2014, Co.'s total assets amounted to Euro1,266,296,000,000 and total customer deposits amounted to Euro647,627,000,000.
DayByDay is an independent research company providing global macro and single stock analysis, recommendation and allocation based purely on behavioural finance methods. Those include long term cycle analysis, sentiment analysis, and technical trigger. DayByDay serves all clients in need of practical and precise publications to make effective market decisions, on any time horizon, from a few hours to a few years.
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