Short term view - BANCO SANTANDER : New low
The trend is still bearish, the invalidation level is above €5.5200. The target is at €4.4900.Arguments :
- The major resistance has been reached, it causes the fall.
- Prices made a new low, the trend is well asserted.
- The moving average is capping prices.
- The measuring gap, opened in the middle of the fall, reinforces the bearish trend.
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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