If the close of the first quarter of 2021 had given us back a title in great shape, so much so that the report of our Research Department also titled the quarterly closing supports the rise of Unicredit whose shares point to a rise of 140%, the following weeks have confirmed that Unicredit shares are candidates for an amazing rise in the coming months.
Before dealing with the graphical analysis, an overview of the main indicators related to the enhancement of the stock.
Unicredit has excellent growth prospects according to the price / earnings ratio and the Price to Book ratio. For analysts, however, the average consensus is accumulate with an average target price in line with current prices.
Unicredit shares are candidates for an amazing rise in the coming months: the indications of the graphical analysis
Unicredit (MIL: UCG) closed the session of June 4 down by 0.78% compared to the previous session at 10.494 euros.
The last two weeks have been very important for the banking stock. As can be seen from the graph, in fact, the strong resistance in the 10.38 euro area (first price target) was not broken, but it was also confirmed in the following week. At this point the prices are directed towards the II price target in the 12.71 euro area. The maximum extension, on the other hand, is in the 15 euro area. Only a weekly close of less than 10.38 euros would undermine the bearish scenario.
In the monthly, the closing of May gave a great show of strength and now the prices are directed towards the objectives indicated in the figure. In particular, the maximum extension of the current rise in the area of € 22.123 should be noted. If reached, the title would double its value.
A monthly close below 8.08 euros would put the bullish scenario aside.
Weekly time frame
The red oblique lines represent the Running Bisector levels; the horizontal lines the levels of The New Law of Vibration. The volume for each price level is shown on the left. The middle panel reports the BottomHunter signal. The minimum on the considered time frame is marked when it is equal to 1. The volume panel shows the volume traded for each bar compared with a 20-period zero lag exponential moving average. The Swing Indicator is shown in the lower panel showing the bullish and bearish signals on the instrument in question
Time frame mensile
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