BBVA shares, one step away from erasing the stock market drops caused by Covid

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The behavior of BBVA shares on the stock market is very positive both in the short and medium term. In fact, together with the CaixaBank shares, are the only listed companies in their sector that are about to surpass the highs of last February of last year before the falls for the first wave of the pandemic.

However, it is true that since the minimum we saw in September last year at 2,128 euros we have seen two speed well differences.

A first with a lot of verticality, especially in the month of November of last year, and that led him to double the price in just over two months. Another much more leisurely one, in which he has dedicated himself to consolidating previous gains with a clear pattern of increasing minimums and maximums and in which so it has only been able to stretch the price by 15.4% in more than five months.

Evolution of BBVA Eduardo Bolinches shares

And now we can only wait for the icing on the cake topping the maximum prices of February 2020.

In fact, prices are forming a huge bullish right triangle, which if it were to break through the upper part in the next sessions would give an additional potential rise of about 1.15 euros. That would take us to the area 6.15 euros in which we were in May 2018.

However, we cannot forget that there is a possibility that now is not the optimal moment of the breakout and, then, the price ends up returning to the triangle base which implies seeing the action at 4.50 euros.

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