Revisit the buy and-hold case for Banco Santander, S.A. (NYSE:SAN)

Banco Santander, S.A. (NYSE:SAN) gained 2.29% in yesterday’s session, going up from its prior closing price of $6.55 to $6.70. The price has been moving in both directions for this period, and there has been a -1.33% loss over 10-day period. Trading activity decreased by -4.32 million shares, and in total, 8.63 M shares exchanged hands for about $57.81 million. It should be noted that increasing price and decreasing volume show lack of interest and this is a warning that something has fundamentally changed.

Inside SAN’s Recent Trend

Banco Santander, S.A. (SAN) with 90% probability for the price to range between $6.25 and $6.87 in this timeframe. Investors sometime notices large volume spikes after a breaking of the horizontal base, and stocks rarely experience a roller coaster ride from the bottom of a trend. Stocks jumping at a middle end of a horizontal base are therefore followed in search of a potential runner.

Banco Santander, S.A. Technical Signals

SAN has witnessed its short term MA triggering a sell signal. Meanwhile, however, the long-term average has generated a buy signal. When the short-run moving average rises above its longer-term trend, a buy signal is created. This is because a short-run moving average that crosses its long-run moving average counterpart is seen as the initiation of an upward trend. On additional rally, the share price will meet short term resistance at around $6.80. On a drop, the stock is likely to find some support over the long run, which begins at $6.60. A buy signal will be generated if it crosses above the short term moving average. Meanwhile, however, a price crossing below the long term moving average will generate a sell signal. Its pivot point low generated buy signal on Wednesday October 04, 2017, which calls for additional surge until the stock forms a new pivot point high. There was a decrease in volume but the price rose. This is usually not interpreted as a good sign as traders widely believe falling volume should see declining stock. Investors should be watching the price action like a hawk in the coming sessions.

Banco Santander, S.A. (NYSE:SAN) Support And Resistance Levels

Banco Santander, S.A. (SAN) recorded volume accumulation so there will probably be a surplus of buyers at $6.62. In case of gains, the next resistance from accumulated volume will not be far away from today’s level at $6.75, $6.82 and $6.83.

Accumulated volume is going to prevent the price from rising further at $6.75 and this action will lead the price to take a temporary pause or stay muted for a few days.

Banco Santander, S.A. (SAN) Risk Assessment

The number of shares changed hands in the stock is good, indicating the interest and low risk associated with it. In the most recent session, the stock price hovered around $0.16 (2.40%) between intraday high and intraday low. Each day in the past 1 week, the average volatility remained at 1.44%.

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