Date: Thursday 14 Jun 2012
There is no reversal formation in sight for shares of Spanish bank BBVA but we believe it will eventually show up. There is no reason to despair. On the chart, we see that the stock found a support level at the March 2009 low of 4.50 euros. Considering that the stop-loss order has to be placed slightly below this level, we may go ahead and open long positions. The primary target is at 6.50 euros, where the bearish trend line of the last year and a half crosses.
It was recently reported that seven private capital firms and two investment banks have shown interest in the toxic real-estate assets that Spanish entities will be segregating this year, according to specialized media agencies. According to sources from the sector, Cerberus Capital Management, Lone Star Funds, Patron Capital Partners, Fortress Investment Group, Benson Elliot Capital Management, Matlin Materson, Doughty Hanson, JP Morgan, and Morgan Stanley are among the interested firms.
or share it with one of these popular networks:
You are here: news