Increases of 3.3 percent in the early stages of today’s session to what we have to add an almost perfect last week if it were not for the collection of benefits on Thursday and Friday that with today’s increases are almost offset.
This is the letter of presentation in the short term of the shares of the Santander Bank that it seems that they are waking up and rising from the beating received by the pandemic of the Covid-19. And it is that the company that has more weight in the Spanish selective got to drop off no more and no less than a 55 percent up to the lows of last May 20 and since then it has increased in value 20 percent in just nine sessions.
From the point of view, we must highlight the rupture at the top of a descending wedge and that usually has bullish connotations for the value if it is able to break last week’s highs in the 2.17 euros On top of that, it does so with a feature that is currently missing: volume.
Evolution of Banco Santander shares
It is precisely that lack of volume The one that makes me wait for the consolidation of 2.20 euros to enter the value with greater guarantees of success, although it is true that the weakness of the banking sector also causes me to be disciplined with a stop loss placed below last Thursday’s lows of 2.01 euros.
So better to wait for the break of 2.20 euros and see a high volume of trading than to enter now out of the desire not to be left out of the price recovery and end up seeing another failed attack like last April 30.
However, for a long-term investor there’s little question. The shares of Banco Santander will take longer or take less time to undertake the upward break of 2.20 euros, but they will do so and in the face of this situation the purchase divided into two or three orders spaced in time is not crazy.