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Ibex 35 Chain Three Days In Red And Puts Supports To Test Of Mark1199

If you lose the 8,500, it will open the door to additional drops of 4%, according to Ecotrader

The stock markets of Europe closed the session this Thursday with falls that have been around 1%, against the backdrop of (moderate) sales on Wall Street. However, the Spanish has been the worst stop and has chained its third consecutive session in negative . The Ibex 35 has corrected 1.52% and has danced on the support zone found at 8,500 points. Siemens Gamesa was the clear protagonist of the session after its profit warning .

The Ibex has already lost more than three percentage points in three days . If on Monday it ended at 8,816.7 integers , today it has left 8,600 behind. And not only that: it has jeopardized 8,500 points (intraday low: 8,507) Mark1199.

At risk further correction
“The maintenance of this support, the scope of which implies having seen an identical correction in proportion to the sight in January, depends on not opening the door to a broader correction that could take the Ibex to 8,180”, warns the technical analyst and Ecotrader advisor , Joan Cabrero. In other words: if the national index loses 8,500, it will open the door to additional drops of 3.8% .

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The European market ( EuroStoxx 50 ), meanwhile, has continued to distance itself from its resistance at 4,100 points, to around 4,060 integers.

The collapse of Siemens Gamesa, protagonist of the day
Back on the Spanish market, there has been a company that has stood out (for the worse) among the 35 on the Ibex: Siemens Gamesa . The wind turbine manufacturer announced last night a downward revision of its forecasts for this year.

The news has caused Siemens Gamesa’s share price to plummet to 17%. The company has had its worst day on the stock market in almost two years (on July 30, 2019 it sank by 17.65%). And it has lost the ‘backing’ of several analysts . Finally, the renewable signature has fallen 14% to 22.55 euros.

A ‘heavyweight’ like Inditex has followed Siemens Gamesa to the bottom of the table with losses of more than 5%. One of its main competitors has published results today .

Solaria, IAG, PharmaMar and Meliá were other of the worst companies of the session, losing between 3% and 4%.

In fact, few stocks have ended the day positively, although several in the financial sector have done so (which has an important weight in the Ibex): BBVA, Banco Santander, CaixaBank and Sabadell have recorded increases of around 0, 5%.

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