The Mexican Stock Market: Alfa, Grupo Mexico and Wal Mart fall in Thursday’s session

  • The Mexican Stock Market loses 0.35%, registering a daily minimum of 50,566.
  • The Dollar fell 0.29% on the day, currently trading above 20.46 Mexican pesos.
  • Wal Mart (WALMEX) shares fall 1.85% daily.

The Mexican Stock Exchange (BMV) signs its fifth consecutive day of decline, falling 0.35% on the day to trade above 50,574 at the time of writing. The Price and Quotations Index of the Mexican Stock Exchange reacted downwards in a short-term resistance given by the maximum of November 7 at 52,594. We see the next key resistance zone at 54.343, the high of August 16. On the downside, the important support area is located at 49,486, the pivot point of November 6.

Alfa, Grupo Mexico and Wal Mart keep the Mexican Stock Exchange in a negative zone

Wal Mart (WALMEX) shares lost 1.77% on the day, trading above 55.36 Mexican pesos, remaining within the operating range of the previous session. On the other hand, the securities of Grupo Mexico (GMEXICOB) registered their fifth consecutive day with losses, falling 1.46% on the day, reaching lows not seen since September 11 at 100.48 Mexican pesos.

Alfa shares (ALFA/A) lead the losses on the Mexican Stock Exchange today, falling 2.04%, currently trading at 15.36 Mexican pesos. ALFA/A formed short-term resistance at 15.97 Mexican pesos, given by the November 7 high. To the south, the closest support is at 15.14 Mexican pesos, the pivot point of November 11 in confluence with the 23.6% Fibonacci retracement.

Alpha Two Hour Chart

Source: Fx Street

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