Below is the interview with Massimiliano De Marco, technical analyst at Robotrend.com, with questions on the Ftse Mib index and some blue chips.
The Ftse Mib reached new highs of the year over 27,000 points. Free field for new rises?
The situation does not seem to have changed compared to what was said last week, namely that the setting of the Ftse Mib remains favorable and we should still be in the central part of the rise started a month and a half ago.
The only “technical” point of concern is that the daily RSI is reaching overbought levels which in recent times have always caused corrections in the very short term.
Apart from that, I don’t expect violent corrections for the Ftse Mib in the short term, but the support not to be crossed to maintain the bullish stance is at 26,300 points.
What can you tell us about the current structure of Banco BPM and Bper Banca and what strategies can you suggest for both?
Banco BPM was rejected by the 3 euro fee, and the subsequent correction seems to be impulsive and therefore not yet completed.
An attempt to test the strong support at 2.50 euros is likely, but the scenario would change in the event of a daily close above 3 euros.
BPER Banca tested a first support, but if a retracement of the movement started in July is underway, the correction is likely to extend up to € 1.76-1.82.
Exceeding this area would change the medium-term scenario for Bper Banca, which at the moment remains bullish due to exceeding € 2.15.
What information can you provide us for two insurance companies such as Generali and Unipol? Which operation to follow now?
Generali is projected to exceed the pre-covid maximum of 19.65 euros. The title in the short term is supported by a nearby trendline and is therefore unlikely to go below € 18.75.
In the medium, however, the target for Generali should be reached, albeit with a waning momentum.
Unipol seems to have started a correction of the movement that started in July: in the short term I would expect an attempt to close the gap at 5.12 euros before testing the strong support at 4.85 euros.
Which stocks are you following most closely in this market phase? Which ones do you recommend to look at now?
Compared to the last few weeks, when several titles showed room for reaching new highs (I’m thinking, for example, of Azimut), in many cases this space has been filled.
I think it’s more time for “hit and run” like those in the titles discussed above. In addition, I would stay on the trend of FinecoBank or the recovery of Stellantis.
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”.