The week of the Milan Stock Exchange starts racing. The first session closed with a rise of 1%, also thanks to the participation of the banking sector, in particular of a share, Unicredit. The extraordinary potential of this title can make Piazza Affari protagonist and push it towards this new record, that of 26,000 points. This target now seems close at hand.
Yesterday the stock market opened at the closing levels of the session on Friday and closed at the highs of the day. Today, exceeding 25,830 points will bring prices first to 25,900 and then to 26,000 points. Here the Ftse Mib index (INDEX: FTSEMIB) could have a pause phase. There could be sales for profit taking, of those who operate aiming for very short-term gains.
On the downside, it remains important to monitor the 25,600 points which is a significant resistance in the short term. Holding this level will allow prices to stay above the trend line we talked about in this article. The drop below 25,600 points will first result in a drop in the index to 25,400 points and subsequently to 25,000 points.
The extraordinary potential of this title can make Piazza Affari protagonist and push it towards this new record
Yesterday Unicredit was the stock that achieved the highest performance among the shares with the highest capitalization. It was no accident. Yesterday was a good day for the entire banking sector. In fact, the Milan Stock Exchange performs the best sessions when credit securities stand out.
Yesterday Unicredit was the best title in the basket of the Ftse Mib. The stock closed at € 10.85, up 3.5%. Over the past month and a half, prices have gained over 30%. But how far can they go up? An answer can be given by the historical analysis of prices. In February 2020, the week before the market collapsed due to the pandemic emergency, the stock was above € 14.00. To make up for the losses from these values, the stock must rise by another 30% or so.
In the very short term, exceeding € 10.85 will push prices to the first target of € 11.2. Here he will find a little resistance. While on the downside, attention must be paid to the threshold of 10.5 euros. If prices fall below this level, they will reach 10 euros.
This is the multidays analysis and the point of view of the international markets of the ProiezionidiBorsa Research Department.
(We remind you to carefully read the warnings regarding this article, which can be consulted who”)