The Ftse Mib lost positions last eighth, shattering the recovery attempts. Is it good to prepare for further sales?
Last week we witnessed a continuous decline in the Ftse Mib, with a final rebound on the weekly support of the 24-period average at 25,387 points, towards the daily resistance of the 12-period average at 25,715 points, closing below 25,615 points.
For the next few sessions, a first sign of weakness for the Ftse Mib will be the loss of the daily 100-period average at 25,530 points, with a bearish assault on double support at 25,387-25,276 points, below which there is room for a negative acceleration towards 25,169-24,941. and about 24,680 points, and possible return to lower levels, between the average of 200 daily and that of 12 monthly periods in the area of 24,490-24,205, whose stability should favor a prompt recovery of the courses.
Vice versa, above 25.715-25.940 points, for the Ftse Mib it will be possible to resume the uptrend, with intermediate static resistances around 26.300 points and on exceeding this level space for 26.400 points and the relative maximums for the period between 26.540 and the top. at 26,688 points, with the possible departure of a new positive leg towards about 27 thousand-27500.
ENI has been showing significantly more strength than Saipem lately. What can you tell us about these two titles?
ENI has made a recent lateral movement, with a correction followed by a first relative high, yet another fall and the present bullish surge, which needs prompt confirmation.
In fact, after a roller coaster between about 10.70 and 9.35 euros, the stock broke the delay, with a first rise just under 11.20 euros, a descent to 10.33 euros and the current shot at 11.578 euros, not confirmed since closing at 11.482 euros.
Above 11.58 euros, therefore, a continuation of the bullish scenario is possible, with supports at 11.03-10.76 and resistances at 12.39-13.01 euros.
After a recent bearish trend, characterized by decreasing highs and two decreasing lows, Saipem attempts the bullish reversal, with the present attack on an important daily resistance, from which it has currently been rejected.
In practice, after the resistance of 1.87 euros in April, with a rebound to 2.31 euros, we have witnessed a rapid fall to 1.822 euros, with the current strong rise hampered by the average of 200 daily periods at around 2.160 euros.
A new rise will be expressed by Saipem only after exceeding 2.17 euros, with supports at 2.076 and 2.03 euros and resistances at 2.38 and 2.51 euros.
Azimut and FinecoBank took different paths last Friday. What strategies can you suggest for both of us?
Azimut is the protagonist of a textbook upward trend of technical analysis, with perfectly rising highs and lows, up to the recent double top and the present phase of corrective uncertainty, waiting for a new directional movement.
In fact, on the break above 16 euros, Azimut has embarked on a decisive rise which, between corrections and recoveries, has reached a double maximum of 24.48-24.54 euros, with current correction between 23.30 and 23.80 euros approximately.
A new bullish impulse will occur for Azimut above 24 euros, with supports 23 and 22.60 and resistances at 25.40-26.60 euros.
FinecoBank after a decisive upward path, characterized by increasing lows and maximums up to the most recent, makes the false break of a whole price level and is in the current corrective phase.
In concrete terms, after a positive trend, albeit fragmented by important corrections, moreover on rising lows and holding on to important supports, when the unconfirmed 16 euro is exceeded, the present decline begins at around 15 euro.
Only over 15.80 euros will we be able to have a renewed rise, with supports at 15.22 and 14.70 euros and resistances at 16.70-17.26 euros.
What titles are you following most closely at this stage? Which ones do you recommend to look at now?
Carefully monitor: BPER BANCA, BUZZI UNICEM, ENEL, FERRARI and SNAM up and BANCA GENERALI, PIRELLI and TENARIS down.
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”.