There was a long list of candidates to enter the Ibex 35, the ones that sounded the most were PharmaMar, Sacyr and Solaria, but in the end the one chosen by the committee of technical advisers has been Almirall instead of Ence but of Mediaset.
The change will take place technically next June 22nd and normally we tend to think that the value that is announced that goes into the selective goes down and the one that goes out goes up. However, I would say that this is a guideline highly conditioned to surprise or there is not.
And as in this case yes there has been because we have the shares of Almirall increasing 4.53% after the first hour of hiring of today’s session.
Entering the Ibex 35, beyond the supposed cache International or recognition of a positive stock evolution, is that many international funds do not have the go-ahead to buy stocks if they are not part of a large stock index. And the Ibex 35 is not that it is the center of the world, much less, but from being in the index to not being you can always drop a purchase order of 0.01% of some large fund.
But since we are retail investors, the only thing that interests us is if the value has bullish potential enough to deserve our money. For this, we must take a look at the graph of Almirall both in the short term and in the long.
Evolution of Almirall’s shares
The reaction since the March lows is being very correct with a clear pattern of rising lows that soon led him to reconquer the medium-term moving average and once recovered he has not lost it. In fact, in yesterday’s session we saw how it was trading below it in intraday format and at the close it recovered it so that, in today’s session, it continued with the rises.
This generates an important buy signal with protection stop at the lows we saw in yesterday’s session.
Regarding the potential of the rise, we look at the long-term average of the 13.76 euros as first serious resistance.
Those levels are also the April lows of last year making it a resistance to take into account.
Regarding the technical aspect in the long term, the action has great problems to overcome the area around the 18 euros. Before them, we will meet the resistance of the 16 euros, but to maintain the wonderful pattern of increasing lows that we have seen since last March, it’s a matter of sitting and waiting.