Shares of Banco Bilbao Vizcaya Argentari (BBVA) have been consolidating in 2016. But looking back, we can see that there has been a downtrend since mid-2014, when price was just above 13.50. In mid-2016, price fell to 5.15. But, it seems like price may be bottoming in 2016.Yesterday, we looked at another bank stock, Credit Suisse (CS), as it signals a bullish outlook with a "slingshot" signal. BBVA is also looking at a "slingshot".BBVA Daily Chart 12/8(click to enlarge)Slingshot/Rounded Bottom vs. Falling Trendline:- As noted above, there is a bullish slingshot signal in the daily chart. This is where price crosses above the simple moving averages (SMAs), then bounces off these SMAs when they are tested as support.- Also note that the price structure in 2016 has been somewhat sideways and a possible rounded bottom.- Still, the question remains whether the prevailing downtrend will be reversed.- A break above 7.00 will be critical, as it would represent a break above a falling trendline. - I like the chances of a bullish breakout and a revisit of the 7.50 area by early 2017.