Ftse Mib: be careful not to get trapped. The interesting titles


Below is an interview with Enrico Malverti, president of Fintech4i, with questions about the Ftse Mib index and some blue chips.

The Ftse Mib has lengthened the pace in the last few sessions, exceeding abundantly 19,000 area. Do you expect further increases in the short term?

The Ftse Mib and the Dax have had extraordinary strength in the last few sessions. Any negative macro news is ignored and you look at the glass half full, at the end of the lockdown as a restart of the whole economy.

A little bit of this optimism worries and recalls the situation at the beginning of February, when the Italian market broke the 11-year highs, despite the presence of news from China on a possible pandemic in progress.

I would therefore keep the antennae straight so as not to be caught unprepared in the event that the Ftse Mib reversed the trend on the threshold of 19,800 points.

Ubi Banca continues to show more strength than Banco BPM which is also climbing the slope. What indications can you give us for these two titles?

Both bank stocks have gone through difficult months.
Actually, the best technically set of the two is Ubi Banca, which is close to exceeding the maximum of three months.

Banco BPM, on the other hand, has resistance at 1.37 euros, a level that could curb its short-term bullish ambitions.

What can you tell us about the recent performance of Azimut and FinecoBank and what strategies can you suggest for both of us?

Both financial stocks have an excellent technical setting, in particular FinecoBank has a great relative strength.

The title closed the gap formed on February 24 and I expect it to exceed 11 euros before going through a corrective phase.

Azimut has lagged behind, but has shown signs of strength in the last two sessions and now the next target is € 16.39.

For Azimut a 14.7 euro share transfer would be negative.

ENI and Tenaris yesterday had a brilliant session. What is your view on these two titles?

I think I have taken the worst for it and that in the short term it can go back to € 9.50.

In the short term, however, the title will have to deal with the resistance at 9 euros which could trigger some profit taking.

Tenaris also showed signs of recovery. In the short term, the response to the resistance at 6.5 euros will be decisive, which, as for Eni, could trigger a reversal.

Once past this barrier, the target for Tenaris would rise to € 7.36, on the level of March 6th.

What are the stocks that silk following more closely in this market phase? Which do you recommend looking at now?

FinecoBank, Azimut, Nexi and Leonardo are some of the titles that I am following more carefully.

The current one in Piazza Affari is a euphoric phase, so there are many technically interesting situations.
Ferrari, A2A and Intesa Sanpaolo also have good technical settings.

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