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Below is the interview with Pietro Origlia with questions on the Ftse Mib index and on some of the blue chips listed on Piazza Affari.
The Ftse Mib has engaged the reverse gear, returning below 26,000 points. Do you see the risk of further declines in the short term?
The risk of a squeeze by central banks, as the pace of recovery can be slowed down by the Delta variant, is frightening the main global equity markets which in recent days have been moving away from their highs.
In this context, there is great anticipation for today’s meeting of the ECB, in which the hawks led by the Bundesbank, already tamed by Draghi at the time, will return to office calling for an end to the expansionary monetary policy.
On the currency market, the Euro misses the break of the resistances positioned in the 1.19 area against the Dollar and reopens the doors for a return towards the 1.18 threshold.
Yesterday was the second consecutive day marked by weakness for the Ftse Mib, with prices that fell below the 26 thousand points threshold.
The index stopped in contact with the former highs of June placed near the 25,900 points.
In the short term, a confirmation of the FTSE Mib below these levels could continue sales towards 25,500-25,550 points and to follow towards 26,300-26,250 points.
On the contrary, the resistance of 25,900 points would confirm the current strength of our index, with the first bullish targets last week’s highs located near 26,400 points.
Stellantis yesterday was the worst of the Ftse Mib, but it also went badly for CNH Industrial. What is your view on these two titles?
The sales seen yesterday on STELLANTIS are mainly due to the fact that the Chinese car manufacturer Dongfeng Motor Group Co Ltd, sold 1.15% of the capital with Abb for 600.4 million euros, at a price of 16.65 euros. per share.
The Chinese firm will retain a 4.5% stake in Stellantis upon completion of the sale of the shares.
From a graphic point of view, the fall of the stock below € 16.8 weakened the structure of the stock which at this point could continue the corrective phase towards the threshold of € 16.
A very short bearish trend also for CNH Industrial, whose prices could continue towards the first supports located in the 13.5 euro area.
Enel continued to suffer yesterday in Piazza Affari, while Snam was among the best in the Ftse Mib. What can you tell us about these two titles?
The weakness on the ENEL stock does not stop, which reached the lows of 2021 in the 7.5 euro area, the last bulwark to avoid a continuation of sales towards 7.3 and to follow the 7 euro.
On the upside, we would have signs of strength for Enel only after exceeding 7.8 euros.
On the contrary, the bullish candle drawn yesterday by SNAM could put an end to the weakness of the stock and push prices towards € 5.10 and then € 5.15.
Which stocks are you following most closely in this market phase and which ones do you recommend to watch now?
Among the interesting stocks I point out RECORDATI on a possible test and resistance of the strong supports located in the 52.5 euro area.
To follow SALCEF in case of further correction towards 17 euros and finally SCIUKER FRAMES with the break of 6.9 euros.
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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”.