The savings of the Italians risk falling into the hands of the French? Generali action under observation
It is to Generali that the Italian entrepreneur aims when he wants to acquire 20% of the business bank in Piazzetta Cuccia. Generali is one of the largest financial groups in Europe and one of the safes of Italian savings. The well-informed whisper of a daring operation: to create a partnership between Generali, in fact, and the French giant Axa.
But do the savings of Italians really risk falling into the hands of the French? Let’s see how the Generali action (MIL-G) behaves on the Stock Exchange. The stock suffered reverses exactly like most Italian stocks. And being a financial security it had a very similar trend to the banking sector.
In March it lost almost 45% from about 19 euros to just over 10 euros. On March 19 the prices had a reaction that brought them up to the 13 euro area. Subsequently, the action has had a lateral movement around this value, to date.
The strategies for the action of the Lion of Trieste
On April 30, the action marked a maximum of 13.55 euros. It is at this price threshold that the investor must now look. Because it is only with a closing of prices beyond this level that the conditions for a new bullish phase of the action can be laid. A close above € 13.55, preferably weekly, will push the action towards the € 15.40 area. Here prices would close a gap that opened with the March 9 session.
On the downside, the 11.6 threshold remains valid because a closing below this level would bring the action back towards 10 euros. While a close below 12 euros would further remove any bullish ambitions of the title.