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Below is an interview with Enrico Malverti, Quant Analyst Ematrend SRL, with questions on the Ftse Mib index and some blue chips.
The Ftse Mib continues to catalyze purchases after the lateral phase seen until a few sessions ago. Is there room for new rises?
The Ftse Mib in Thursday’s session gave an important technical signal, managing first to break the sequence of decreasing highs in place since August 13 and then to violate the static resistance in the area of 26 thousand points.
It is therefore reasonable to expect a further climb towards the 26,400 points which represent the next resistance.
After a period as unfavorable to the stock markets as the one experienced between August and mid-October, I expect a more positive end of the month, barring surprises in the macroeconomic context.
Given the current oil prices, would you recommend focusing on two issues such as ENI and Saipem?
ENI, Saipem, but also ERG, are stocks that have the potential to continue to appreciate in the medium term.
In particular, I like ENI, which I think can get back to the pre-pandemic prices.
However, after such a strong climb, I believe oil-related stocks may suffer short-term profit-taking sell-offs, with a return to retest relative supports from the past 10 days.
Leonardo today recovers after yesterday’s thud and CNH Industrial is also perky among the industrialists. What strategies can you suggest for both of us?
Leonardo after the bad session yesterday 14 October, rejected by the resistance at 7.28 euros, deserves respect and I do not trust for now the rebounds due to the oversold short-term.
From an investment perspective, I would wait for the weekly closing to make assessments with the bowls still, for now the technical picture has deteriorated and I think there are more attractive titles than Leonardo.
CNH Industrial, on the other hand, is still in the midst of a long lateral phase: in the short term, I believe that the stock can return to the top of the congestion in the 14.65 euro area.
What can you tell us about two utilities like Snam and Terna? Would you consider buying these two stocks now?
Snam is in a bearish trend with a sequence of decreasing maximums clearly evident on the daily and weekly chart.
I believe that this sequence could only be broken by a rise in the stock above € 4.85, but until then I would remain neutral.
Terna’s situation is slightly better, the stock seems to have drawn a double low just above € 6.04.
We would have the signal of a reversal of the trend with a close above 6.36 euros.
Which stocks are you following most closely in this market phase? Which ones do you recommend to look at now?
The stocks that I am monitoring most carefully these days are Generali, Intesa Sanpaolo, Eni, Enel, Banco BPM, ERG, Poste Italiane, Nexi and Ferrari.
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”.