Direct line To achieve psychologically, the market has recently evolved upwards. return to euros per share, which had already lost at the beginning of last October. And all this despite the fact that the results of the last quarter do not accompany the market value.
As a matter of fact, the penalty, which became widespread in lines such as automobiles due to the increase in receivables and inflation in all companies, was especially felt in Línea Directa, sustained significant losses so far this year. and it has caused some media outlets to start stating that both equity funds and insurance companies are analyzing the situation to assess the situation, as in The Objective case, Even in a takeover offer for the insurer that Bankinter will list still owns 17.415% as the second shareholder.
What is tangible now is because its first shareholder, Jaime Botín’s Carnival, has increased its presence in the insurer. Shopping that has been happening slowly lately. After 1.1 million shares at the end of October, another 20,290 shares were purchased in the market at an average of 0.92 euros per share. Officially, as of May 14 last year, Carnival’s stake in Línea Directa corresponds to 19.15 percent of its capital.
On the price chart, we see the value moving with gains close to 9% in the last four weeks listed and a 6.3% rebound in the previous three sessions, despite maintaining a strong bearish trend so far this year. Continuous Market with more than 34% declines.
Technically Investment Strategies market analyst José Antonio González thinks the stock has “a strong primary or long-term bearish trend. A clearly bearish structure is an asset that we cannot consider strong. So, first of all, suggesting buy positions is to position yourself against the prevailing trend”.
“Also – highlights the EI technical expert – We see how this fall structure is getting progressively lower slopes, i.e. increased selling pressure on the asset under review. Basically, I don’t like to think about buying in such assets., because I try to prioritize actions with the greatest possible power. Of course, in a time of trading, such assets can be exploited by bullish returns, but we should always try to position the fund structure in our favour”.
And until I saw José Antonio González’s “Línea Directa” Beyond this zone of €1.01-1,034 per share, we do not find it interesting to enter”.
Ángel Cotera, market specialist at BBVA TraderIn his statements to Investment Strategies, he highlights that there are some uncertainties in Línea Directa and its monthly chart, with the monthly bearish trend since September 2021, without exceeding the maximum but not breaking the minimum.
So the first thing we should look for in the company is soil, he said. How? with some figure It’s not showing up for me right now. We do not see a clear head-to-shoulder figure, so we can see a possible bullish breakout. It has not happened at the moment and in this case I will not guess.
On the daily chart we see that this has become a bias. Moreover, if we see both days when the value drops and the volume increases, so I still have little confidence. I wouldn’t be one of the values I would be”.
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