SAN Price Prediction Next Week
Analysis and Insights
To predict the stock price of Banco Santander (SAN) for the next trading week, we analyze both news sentiment and technical indicators.
News Sentiment Analysis:
Recent news indicates that Banco Santander has partnered with Verizon to expand its U.S. presence, offering high-yield savings accounts to Verizon customers. This strategic move is expected to increase deposits and lending capabilities in the U.S. market. Additionally, Santander is planning further investments in Mexico, aiming to double its size there, which could enhance its growth prospects.
However, the bank is also closing 95 branches in the U.K., potentially impacting its customer base and operational efficiency.
Technical Indicators Analysis:
RSI: SAN's RSI_6 is 60.64, RSI_12 is 64.82, and RSI_14 is 65.48. These values indicate that the stock is not in overbought territory, suggesting potential for further upside.
MACD: The MACD line is slightly above the signal line (0.32), indicating a weak bullish signal.
Moving Averages: SAN is trading above its 5, 10, and 20-day SMAs (6.99, 6.74, 6.60) but below its 50 and 200-day SMAs (5.61, 5.00), signaling a short-term uptrend within a broader consolidation.
Fibonacci Levels: The stock is approaching resistance at 7.0600 (R1) and 7.2700 (R2), with support at 6.4100 (S1) and 6.2000 (S2).
Price Action:
The stock closed at 6.92 on March 21, with a slight gain of 0.44% during regular market hours. The price action shows consolidation, with the stock testing resistance levels.
Conclusion:
Based on the analysis, Banco Santander (SAN) is expected to trade between 6.60 and 7.27 next week. The stock may face resistance at 7.06, but positive news about its U.S. expansion could drive it higher.
Predicted Price Target: 7.10
Recommendation: Buy on dips near the support level of 6.60, targeting the resistance at 7.06.
SAN Similar Chart Price Prediction
The price of SAN is predicted to go up 8.95%, based on the high correlation periods with CSWC. The similarity of these two price pattern on the periods is 97.06%.
SAN
CSWC
Up: 8.95%Similarity: 97.06%
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SAN VS S&P500
Santander operates in regions with higher growth prospects and levels of profitability compared with its European peers.
A focus on retail banking and geographical diversification gives greater stability and visibility to Santander's earnings.
Streamlining Santander's portfolio could unlock significant value.
