CaixaBank (CABK.mc) bearish scenario:The technical figure Channel Up can be found in the daily chart in the Spanish company CaixaBank, S.A. (CABK.mc). CaixaBank, S.A. is a Spanish multinational financial services company. It is Spain's third-largest lender by market value, after Banco Santander and BBVA. CaixaBank has 5,397 branches to serve its 15.8 million customers and has the most extensive branch network in the Spanish market. It is listed in the Bolsa de Madrid and is part of the IBEX 35.
The company consists of the universal banking and insurance activities of the La Caixa group, along with the group's stakes in the oil and gas firm Repsol, the telecommunications company Telefónica and its holdings in several other financial institutions.
Channel Up broke through the support line on 18/03/2023. If the price holds below this level, you can have a possible bearish price movement with a forecast for the next 47 days towards 3.2770 EUR. According to experts, your stop-loss order should be placed at 4.1970 EUR if you decide to enter this position.
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