IBEX Spain Index outperforming America and others target 14890It seems like it's the year for Europe and Spains Index.
I love tracking Spain because it has a similar motion and momentum with the JSE Top 40 in South Africa.
Well Spain is finishing up the Cup and Handle and once it breaks out of the brim level, then we can expect upside to come.
🇪🇸 Strong Spanish Economy
Spain's growth outpaces the eurozone, boosting stocks.
🏦 ECB Rate Cuts Help
Lower rates from the ECB fuel equity demand.
💼 Bank Stocks Surge
Sabadell & Caixabank post big gains, lifting IBEX.
📊 Attractive Valuations
High dividends and low P/Es attract investors.
🚀 Investor Optimism
Positive sentiment keeps driving the rally higher.
Technicals
Cup and Handle
Price> 20 and 200
Target 14,890
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
