The Ftse Mib yesterday scored a good stretch by pushing into the 19,000 area and confirming the positivity of the cycle of which it spoke last week. What to expect now?
For the Ftse Mib, the attack on the important resistance of 19,300 points already reported in the last interview seems to be approaching.
To hope for a further extension of the index is the holding of the relevant supports at 18,200 points first and at 17,750 and 17,300 points afterwards.
These three supports are very connected to each other and will strongly defend the market.
The Ftse Mib is going overbought and therefore the next attack and even more the overcoming of the resistance at 19.300 points will surely bring a wave of euphoria.
The index will thus aim to close the gap-down left open at the beginning of March around the 21,000 area.
This is an important price level where it will be necessary to understand how institutional investors will play it.
What can you tell us about the recent performance of the Dax30 and S & P500? What are your expectations in the short term?
The S & P500 has crossed the threshold of 3,025 points and now the goal is to breach the 3,095 area upwards to close the February gap at 3,296 points
Even the S & P500 is almost overbought, so like what was said for the Ftse Mib before, we could witness euphoria and volatility shortly.
On the downside, the first support to defend is at 2,975 points, below which the S & P500 will compare with the subsequent supports at 2,925 and 2,875 points.
The Dax shows a movement similar to that of the S & P500 and also in this case a phase of euphoria seems near.
The goal is to overcome 12,070 points and then go to take 12,250 points and tighten under the resistance of 13,100 points.
For the Dax it will be important not to drop below 11,330 points, a very important double support for the German index.
Yesterday Unicredit pushed slightly above the 8 euro quota, while Intesa Sanpaolo regained the 1.6 euro threshold. What is your view on these two titles?
Finally Intesa Sanpaolo has awakened from the sideways that had seen it move between 1.6 and 1.37 euros.
The title is out of this range and with the break upwards of the same now the goal is to go to ride the closing of the gap around 1.74 euros.
From then on Intesa Sanpaolo could start a strong recovery towards 1,985 euros first and then towards 2,1 euros.
The stock has just gone overbought and the wave of upward volatility is likely to continue in the short term.
The only painful notes for Intesa Sanpaolo would occur in the event of descents below 1.41 euros before and subsequently over 1.34 euros.
Unicredit also pulled out of the side thanks to the overcoming resistance at 7.85 euros.
Now the goal is to go in the direction of the 9 euros, regained which you can see an increase towards 9.8 and 10 euros, with subsequent projections up to 12 / 12.1 euros further in time.
Unicredit should not fall below the important support of 7.37 euros before and then beyond that of 6.77 euros.
ENI yesterday showed off a nice rally that launched it towards 9 euros. What strategies can you suggest for this title?
ENI yesterday regained a first major resistance at 8.67 euros and is now aiming for the next one at 8.9 euros.
Beyond this last level, the title will be out of danger and will be able to hang on to the resistance of 10.8 euros, beyond which it will look at 11 euros.
For ENi only a return below 8 euros will be negative, an event that will open the doors to a possible closure of the gap at 7.23 euros.
STM tried yesterday to hang up the 23 euros, but failed in its intent. Is there room for new increases?
STM has seen a good brush up and now the overcoming of the resistance at 23.45 euros will lead to a further extension towards the 24 euros first and the 25 euros later, with subsequent projections up to 28 euros.
What can you tell us about Enel that yesterday experienced the twelfth consecutive upward session?
Enel confirms an exceptional title, although very slow in volatility. The return above 7 euros bodes well for a recovery of some gaps and in particular with the overcoming of 7.45 euros there will be room for a test of 8 euros, in addition to which we will aim to close the gap at 8.35 euros.
For Enel, only a return of courses under 6.5 / 6.4 euros will be negative.