Today, we have shortlisted two Spanish companies, Sacyr SA(ES:SCYR) and Acerinox (ES:ACX), to analyze them on the technical front. In a time frame of one month, both companies have a Buy signal, according to the summary of the technical tools available on TipRanks.
The TipRanks technical analysis tool is popular among investors because it digs up all the technical information and presents it in an easy and approachable way. The technical data points available on TipRanks are moving averages, oscillators, pivot points, RSI, and more. With these technical signals, users can make an informed decision on the stock and the timing to enter and exit.
Let’s have a look at more details on these Spanish stocks.
Sacyr is an infrastructure company developing large-scale projects in partnership with public entities. The company’s businesses include construction, engineering, concessions, residential development, and administration services.
According to TipRanks technical analysis, Sacyr has a Buy rating on the overall summary for a time period of one month. The summary suggests the overall technical strength of the stock and is a combination of oscillators and moving average signals. The summary has a total of 14 bullish, four bearish, and two neutral signals.
At the same time, oscillators indicate a Neutral signal with four bearish, four bullish, and two neutral signals in a similar time frame.
Speaking about the moving averages, the stock has a Strong Buy rating with 10 bullish signals. The stock’s 20-day exponential moving average is 2.41, indicating a Buy. The 50-day exponential moving average also suggests the stock is a Buy for one month.
However, SCYR stock’s Moving Averages Convergence Divergence (MACD) indicator is 0.22, which indicates it is a Sell. MACD is used to identify a relationship between the stock price and its two exponential moving averages.
Sacyr SA Share Price Target
Based on one Buy recommendation from analyst Prieto Luis from Kepler Capital, SCYR stock has a Moderate Buy rating on TipRanks.
The average target price is €3.75, which suggests an upside of 28.5% from the current price.
Acerinox is a Spanish stainless steel manufacturing company with a global presence across five continents.
In the technical analysis of the stock, the summary signal gives a Buy rating to the stock based on 11 bullish, four bearish, and five neutral signals, in the time period of one month. Both oscillators and moving averages also suggest the stock is a Buy in the same time frame. Oscillators have four Bullish signals and moving averages have seven bullish signals.
Diving into moving averages, the stock’s both 20-day and 50-day exponential moving averages are 9.39 and 8.95, respectively, as compared to the current stock price of 9.6, suggesting a Buy. The Moving Averages Convergence Divergence (MACD) indicator of 0.19 also implies a Buy signal.
The Relative Strength Index (RSI) value for ACX stock is 51.88, suggesting a Neutral action. The RSI tells an investor whether a stock is overbought or oversold.
Acerinox Share Price Forecast
According to TipRanks, ACX stock has a Strong Buy rating based on three Buy and One Hold recommendations.
The average price forecast is €12.50, which shows an upside of 29% from the current price level. The target price has a high forecast of €16 and a low forecast of €10.3.
The various technical indicators from TipRanks provide an overall understanding of the technical aspects of the stock. These technical points can act as a perfect guide for the accurate timing of stock investments based on the different time frames involved.
Both Sacyr and Acerinox have Buy signals on the overall summary of all indicators for one month.