PharmaMar loses more than 7% in June

PharmaMar loses more than 7% in June

PharmaMar is not living a dream June, far from it. The experts indicated that the level of 66 euros was very significant , but it lost it on the 10th, after that slight improvement that we saw in the value from June 3 to 8 last with four sessions on the rise, although without much enthusiasm .

From there it fell back again with more than significant falls that exceeded 21% for PharmaMar. Levels from which the value has already recovered 13%. A favorable transition that, however, remains far from the best levels of the month, 73.90 at the close of June 8, and also throughout the month, because it maintains the negative trend.

With no news about its compounds in recent weeks, the value continues to fluctuate strongly, marked by the evolution of a volatile market and without, pending rate hikes and bad economic data, in an environment of negative sentiment due to the shadow of a global recession.

In its price graph we see that the value has lost almost 10% in the last month, although it has recovered almost 5% in its last two trading sessions, while, so far this year, the advance of PharmaMar in the market reaches 16.8%.

Néstor Borrás, an independent analyst, highlights that PharmaMar “is introduced below the simple moving averages of 40 and 200 periods. The next support levels are located at 58.16, 52.62 euros and key support at the lows of FEB 24, at 46.50 euros”.

And it also highlights that “in order to have a first sign of strength, we need to close above the gap of June 10 at 70.72 euros per share. The next milestone would be to breach the resistance zone around 77.50 / 78.30 euros per share”.

The premium indicators presented to us by Estrategias de Inversión show us that the value has been moving in consolidation mode since May, with a note lowered by one point and that it reaches a total score of 5 out of 10 for the value.

The trend for PharmaMar is mixed, bullish in the long term and bearish in the short term, as is the case with the total moment, which moves negative fast and positive slowly. Regarding the volume of business, in its two aspects it is decreasing, both in the medium and long term, while volatility continues to increase in the medium and long term.

For the market strategist Ramón Bermejo at PharmaMar “the next resistances are at 65.22 and 66.00 euros. As long as the market does not rally above these benchmarks on a daily close, we have a risk that the market is pulling back prior to a move lower. A new sign of weakness would be to lose the maximum of wave one that your graph describes, at 62.30 euros”

Ángel Cotera, market specialist at BBVA Trader, considers that “in the long term, we see that the company benefited during the pandemic, but has since been losing ground, reaching its lowest point in February. From there, to the highs that it has marked later in April, it makes it easy to mark a support within the price. It could indicate that PharmaMar will continue to rise and will try to break the downward guideline and even a resistance that it has at 73.15 euros”.

Samuel Edwards
Samuel Edwards is the name you must have heard many times while reading reports related to Finance, that's what he is good at. From Major Investments to Stock Market Updates, he got 'em all. Be ready to blow your mind by the mind-blowing reports of Finance World from Samuel Edwards.