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Below is the interview with Gianluigi Raimondi, Gianluigi Raimondi Director of ITForum.it and head of Bluerating Mercati (Bfc Media group) with questions on the Ftse Mib index and on some blue chips.
The Ftse Mib continues to recover from the lows reached recently: the worst in the past? Will it go up again in the short term?
Analyzing the Ftse Mib chart, I see the formation of a V-shaped movement, but to confirm the completion of the same, the index will have to overcome the short-term descending trendline which at the moment coincides at 25,180 points with the passage of the moving average to 50 sessions.
Beyond the level just indicated we could see a return of the Ftse Mib in the 25,500 area, where there is a short-term static resistance, and following a landing on the relative maximums of June and possibly an attack on the 25,000 points threshold.
In my opinion, this positive view on the Ftse Mib will be accompanied by a stop loss to be set at 24,680 points, it being understood that in order to go up again, it will be necessary to overcome the obstacle to 25,180 points.
In the utility sector, how do you assess the current approach of Enel and Italgas and what strategies can you suggest for both?
Italgas recently benefited from a technical rebound after the test of the short-medium term static support at 5.35 euros.
This prompted the stock to cross the coinciding moving averages at 21 and 50 sessions upwards again at 5.55 euros.
Given the wide distance of the indicators from the technical overbought area of the indicators, in my opinion there would be a further long of Italgas towards 5.7 euros first and then up to 5.8 euros area.
For those wishing to buy the stock, I suggest placing a stop loss at € 5.55.
Enel’s performance in this phase is very similar to that of the Ftse Mib, in the sense that it is trying to draw a V-shaped movement after the minimum on the support in the 7.5 euro area.
Crucial will be the overcoming of the short-term descending trendline coinciding with the 50-session moving average now in the 8 euro area.
Beyond this level, Enel will aim at € 8.25 first and then at € 8.4 / € 8.45, with stop losses below € 7.8.
STM today is among the best of the Ftse Mib, while Telecom Italia is among the worst. What can you tell us about these two titles?
STM appears graphically inserted in a solid ascending channel since the second half of last May.
To continue to rise, the stock will have to overcome the medium-term static resistance set at 33.6 euros.
Beyond this obstacle, STM will aim for 35 euros first and then 36 euros, with stop losses below 32 euros.
Telecom Italia is in a well-defined downtrend and could find a support level at 0.35 euros.
If this threshold proves to be a valid support, an attempt to rebound could be seen, with targets at 0.396 and 0.413 euros.
Otherwise, the next downward targets for Telecom Italia would be € 0.32 before and € 0.285 after.
Are there any titles outside the Ftse Mib basket that you want to suggest to us at this stage?
Among the mid-caps, I would like to point out Danieli who is reversing the course after having tested the short-medium term static support in the 21.25 euro zone.
Also in this case, the moving averages at 21 and 50 sessions were crossed upwards and now the stock is aiming primarily at the resistance test at 23.5 euros.
Subsequently Danieli could push himself to attack the 24.55 euros, with a stop loss to be placed in the 22 euro area.
Trend-online Deputy Director, born in 1978.
After completing his studies at the Classical High School “Antonio Calamo” of Ostuni I entered the world of economics.
For about twenty years I have been dealing with Stock Exchange and Finance. After having worked as a financial promoter for several years, in 2005 I joined the Trend-online team as an editor, to later become deputy director of the cylinder head. Among other countless activities, I take care of maintaining relationships with all the experts, analysts and traders, consulted daily by Trend-online.
My motto is? “Life is like a mirror, if you look at it smiling it will smile at you”.