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Below is the interview with Davide Biocchi, professional trader, to whom we asked some questions about currencies, about some commodities and about the expected scenarios for the stock exchanges.
The Ftse Mib is reaching new highs of the year: do you still see room for growth in the short term?
I think the Ftse Mib has the appeal to hit new highs soon, but it’s also true that the current one is a week of technical deadlines, so I see it more as an octave of consolidation.
The Ftse Mib is growing a little, but its movement does not seem explosive to me, and to be able to witness new climbs it will be necessary to have a supporting theme or yet another flow of buying liquidity.
In any case, after the technical deadlines, new rises are not to be excluded, while on the downside I report the recent low in the area of 27,250 for the future on the Ftse Mib.
Below this level, in order to find a true support area, it will be necessary to go down to 26,700 points.
On the upside, in case of exceeding the top of the year, it is not easy to indicate a precise target, because the market will go forward by inertia and if we really have to say a resistance, then we can quote the 30,000 points, a full figure that the market has heard in the past.
My idea is that the Ftse Mib can now consolidate just above or just below the levels reached.
What can you tell us about Unicredit and Intesa Sanpaolo and what strategies can you suggest for both?
Banking is not my favorite stock right now. Unicredit has been moving sideways for about a month, remaining above the important support around 11 / 11.1 euros.
The stock went up, then retraced and is now moving sideways.
For Intesa Sanpaolo it is important that it is above 2.5 / 2.52 euros, but at this moment it is not yet above this level, which is why it is good to be cautious.
Generali has returned below € 19 after recent progress. What are the possible scenarios now?
I like Generali a lot because above 18.8 euros it broke a 12-year congestion of the price.
It is also true that after this breakout the title did not give rise to explosive movements, because Generali is to be imagined a bit like an old man with a cane who certainly does not start running after the break in resistance.
From a trading perspective, you can also buy the stock, while from a portfolio perspective I would try to have it as a medium-long term investment.
Are there any interesting topics in the energy sector?
ENI shines with reflected light compared to oil and as the latter consolidates between 79 and 85 dollars, the stock is doing so between 12.4 and 12.75 euros.
Enel, on the other hand, must maintain the threshold of 7 euros, an important psychological threshold, because after the recent decline, it reacted and even went beyond 7 euros, but then it took a beach.
Keeping the 7 euros still means remaining in a condition to be able to regain momentum, while under 7 euros Enel could go back to testing the 6.5 euros share.
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”.