The FTSEMib40 index closed the trading week at 24,141.16 points with a negative performance of -1.00%. The price list is positioned in one short-term lateral phase and settles just above 24,000 points, a support zone. The violation of the medium-term trendline has generated uncertainty in the market, which does not seem to find the energy for a recovery.
Between sector performance of the Dow Jones Italy under the lens in the last week of the market: the media with an increase of + 16.16% and travel and leisure with a growth of + 12.01%. Among the sectors in the red we highlight the pharmaceuticals with a decrease of 4.57% and the utilities with a decrease of 3.27%.
Between European sectors of the Stoxx of the euro area commercial banks rose sharply with an increase of + 1.58%, technological banks with an increase of + 7.51%, followed by moderate growth in construction and building materials with + 1.59%. On the other hand, many sectors are in the red, including the automotive sector of -2.92%, basic materials with a decrease of 2.69% and utilities with a decrease of 2.86%.
FTSEMib40: the short-term technical framework
The index FTSEMib40 register a week of uncertainty and laterality. The compression band that has been created, after the strong negative bar of 20 April 2021, oscillates between a minimum of 24,000 points and a maximum in the area of 24,500. To date it the short-term scenario appears mixed, with a positive underlying trend, but a price list that cannot find the strength to restart, after the breaking of the medium-term trendline.
To date, the price crosses the EMA (21) and the High School (200), long-term moving average. The level of the Supertrend it is negative and has formed a floor in area 24,928.85. L’RSI(14) it is instead in a neutral phase, while volatility, represented by the ATR (14), settles down. The Directional Movement, DMI(14), directional indicator, remains in close divergence, while theADX (14), stabilizes.
Uno scenario long it would be plausible only above the high of the bar of 6 April 2021 at 24,939 points with an entry in the area of 25,030. A stop loss could be positioned in the 24,430 area, below the low of the day of 9 April 2021. The first target could be placed at 25,500, while the second target at 26,000.
A short position it could be positioned at the breaking of the static support at 24,040 with an entry in the area of 23,850 points. A stop loss could be entered at 24,610 points. The first target could be placed at an altitude of 23,300 and a second target in the area of 22,600.
The 10 stocks under the lens at Piazza Affari
Among the titles of the FTSEMib40 to keep checked this week we evaluate some interesting technical settings:
• IntesaSanpaolo takes the resistance test at € 2.33. The violation is important to define the strength of the bullish movement set at the end of October 2020. In the event of a breakout, the closest long objective could be placed at € 2.40.
• Interpump goes back in the last two market sessions after the recording of the new all-time high. The stock closed the stock market week at € 44.30, still in a positive trend. The technical setting remains bullish, but the violation of the 45.50 euro level is essential to confirm the movement. Trend change below the € 41.40 area.
• A2a approaches the resistance test in the 1.6560 euro zone. The bullish progression that began at the end of October 2020 seems intent on continuing. In the event of a positive break, the first target could be positioned at € 1.70. Reversal of the scenario below € 1.5350.
• Poste Italiane faces the test of the historical maximum and the static resistance formed in the 11 euro area. The bar on Thursday, with the reabsorption of the intraday maximum, highlights the indecision of the movement, even if the underlying trend remains positive. A change of direction would only be possible under 10.50 euros.
• Prysmian is in a delicate phase of the movement. The short-term trend appears negative, with the price pressing on the support in the 26 euro zone. The move of the SMA (200) could help to hold the level, but the setting remains negative. A break of the current support could lead the action towards the first short target in the 25 euro zone.
On the other hand, in the MidCap and STAR segment of the Italian Stock Exchange under the lens: De Longhi, Unieuro and Tamburi Investiment Partners. In AIM Italia, action Digital Value and in the Global Equity Market LVMH.
Unieuro closes the week at € 24.20 showing great energy in the trend set at the end of March 2020. The stock retreats in the last market session, but the short-term setting remains positive. First long objective that can be placed in the 26 euro area. Short reversal below the support in the 22 euro zone.