The FTSEMib40 index closed the trading week at 25,570.46 points with a performance del +1,59%. The price list breaks the lateral phase in which he was trapped in the last few months e stretch firmly. The market then exceeds the resistance created on the high of February 19, 2020, but only the next few sessions will be able to confirm the breakout.
Among the sectoral performances of the Dow Jones Italy to highlight last week: travel and leisure with a rise of + 5.22%, the automotive sector with a growth of 3.52%, oil and goods and services for the industry. Among the sectors in the red we highlight the utilities with a decrease of 1.80%, while other sectors do not reach the percentage point of loss.
Between European sectors of the Stoxx of the euro area on the positive side, the automotive sector, as in Italy, with an increase of + 5.27%, oil with + 2.99% and basic materials with + 2.10%. On the other hand, some sectors were negative, including utilities with a decline of 2.52% and pharmaceuticals with a decline of 0.99%.
FTSEMib40: the short-term technical framework
The FTSEMib40 index it also breaks the resistance created in the area 25.500 points, the upper part of the historical long-term lateral zone, which began at the end of 2009. If the violation were confirmed, this movement would be relevant for the market trend, which could finally move towards the recovery of lost points in the long descent recorded in 2007-2009.
The price is currently above EMA (21) and beyond high school(200), long-term moving average. The level of the Supertrend it is positive and inclined. L’RSI(14) is approaching the overbought phase, while volatility instead, represented byATR(14), continues the descent. The Directional Movement, DMI (14), directional indicator, is positive while theADX (14) it does not accompany the movement of the trend.
Uno scenario long it would be plausible only above the high of last Friday’s bar at 25,570.46 points with an entry in the 25,720 area. A stop loss could be positioned in the area of 25.110, below the low of the bar of June 3, 2021. The first target could be placed at 26.460, while the second target at 27.000.
A short position it could be positioned at the break 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 be kept under the lens this week, some important technical settings are highlighted:
• CNH Industrial continues its race and continues to rise after the pullback which occurred on the basis of consolidation in the 13.30 euro zone. The first long target could be set in the 15 euro area. The maintenance of 14 euros is important, an area below which we could see a new retracement towards the medium-term trendline.
• A2a extends above the static resistance in the € 1.7050 zone. After the break, however, the action still appears uncertain and stops just above the price area. An extension could lead the title towards 1,780 euros. A loss of the current level, on the other hand, would bring the action back towards the medium-term trendline test.
• Interpump opens with a strong gap up in the session of Wednesday 2 June and then tries to extend. The last few sessions, however, appear to be held back by the abrupt climb. The movement could continue in the event of a break of the high of the bar last Friday, but beware of profit taking which could give way to selling.
• Poste Italiane continues the rally set for February 1, 2021. Since that date, in fact, the share has grown steadily, with few profit-taking or corrections. To date, the title is presented at the registration of the new historical high of the period. The first long objective could be set in the 12.50 euro area, an area still unexplored.
• Snam breaks the resistance in the 4.84 euro area. The definitive breakout will be confirmed in the coming days, when the title will show that it has the strength for an extension. Otherwise we could see a step back in the direction of € 4.75 and subsequently to € 4.60 area.
Among the titles of the FtseMib in the spotlight again Prysmian, while in the MidCap and STAR segment of the Italian Stock Exchange to be highlighted instead: Tinexta, Stellantis, Reply ed Esprinet.
Reply lengthens and then stops in the consolidation phase after the sudden acceleration. The loss of support in the 130 euro zone could lead the stock towards the test of the medium-term dynamic trendline. A bullish breach would instead allow the recording of a new all-time high and a first target identifiable in the 140 euro area.