Ftse Mib: worse is yet to come. Banco BPM and Bper buy?

Ftse Mib: worse is yet to come. Banco BPM and Bper buy?
Ftse Mib: worse is yet to come. Banco BPM and Bper buy?

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Below is the interview with Sante Pellegrino, an independent trader, to whom we asked some questions about the current situation of the markets and in particular of Piazza Affari.

The Ftse Mib struggles to recover after the recent drops: what are the possible scenarios now?

The Ftse Mib starts a new cycle and this happens concurrently with the new future on the index expiring in September 2021 which will give its mark to the summer movement.

Unfortunately, the roll-over was not positive, with the future on the Ftse Mib opening in gap-down below the resistance of 25,550 points.

This is a negative signal, but there is an attempt to recover, since it was the support in the 24.780 points area from which a rebound started, but at the moment the prices remain below the resistance of 25.550 points.

At this point it is important to overcome the old highs of 25,960 points to find again positive, while below 24,800 points the future on the Ftse Mib will be negative, with the risk of decreases up to the 23,750 area support.

In the short term, I confirm my negative view on Piazza Affari because in my opinion the worst is yet to come and the real negativity has yet to begin.

What can you tell us about the recent performance of the Dax and the S & P500? What are your short-term expectations?

For the Dax the resistance of 15,680 points is important, which has kept the index compromised towards the downside.
Above 15,880 points we will have a positive view on the German index, while below 15,680 points the goal will be to go down to 15,300 points first and then to the support of 14,900 points.

The S & P500 has moved back above the resistance of 4,230 points and the goal is now to exceed 4,280 points to go higher again.
Alternatively, the index will drop to the support already tested at 4,140 points, broken which the target will be at 4,055 points.

Banco BPM and Bper Banca yesterday were the worst among the banks: what can you tell us about these two stocks?

Banco BPM shifted into reverse after reaching the resistance zone at € 3.05 / € 3.07 and fell below the € 3.02 swing.

At this point the stock is negative and seems destined to drop towards 2.79 / 2.75 euros, below which it will move back up to 2.6 euros and even up to 2.5 euros in the worst case.
Only with returns above 3.03 and 3.08 euros will Banco BPM resume its earnings path.

Bper Banca has abandoned € 1.95 and this is a negative signal that opens the door to a decline of up to € 1.8.
The only reason to go higher is to wait for a rise in prices above 2.18 euros.

What can you tell us about the recent performance of Stellantis and CNH Industrial and what strategies can you suggest for both?

CNH Industrial touched the support of 13.3 euros and will have to stay above this threshold

CNH Industrial fell to touch the important support at 13.3 euros, a price threshold that it will necessarily have to defend if it wants to remain in a safety zone.
Under € 13.3, the stock could drop to € 12 first and € 11 later.

Stellantis tries to recover after the negativity, but the violation of the 17.5 euros is missing to return to positive.

Above 17.5 euros, the stock will aim primarily at 17.94 euros, and then seek growth spaces up to the 20 euros area.
Negativity in the event of a descent of Stellantis below the support of 15.2 euros.

Are there any other titles that you want to tell us about in Piazza Affari?

I am following Poste Italiane which under the support of 11.43 euros is negative and risks a descent to support at 10.97 euros, while the only reason to go up is an upwards overrun of 12.21 euros.

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”.

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