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The FTSEMib40 index returns towards the test of the upper part of the lateral phase at 22,240 points. A bullish gap could drive the market towards the first long goal in the 23,000 point area. If, on the contrary, the level rejects the price, the price could slide back towards the static support at the 21.480 zone.
Between better sector performance of the Dow Jones Italia In the three days of last week we again found the automotive sector with an increase of + 2.52% and investment banking with + 3.48%, while the pharmaceutical sector is among the novelties with a increase of + 2.20%.
Among the most rewarded by euro area investors investment banks (+ 0.95%) are always present, as well as goods and services for industry (+ 0.97%), chemicals (+ 1.13%) and public services (+ 1.43%).
FTSEMib40: the short-term technical framework
The index is still within the lateral swing band a narrow range, between a low at 21,480 points and a high in the area of 22,240. The compression phase It started after the price returned below static resistance on November 30. Since that day the trend has lost its decision and has remained in a waiting phase in which it is still caged today.
One is essential to restart acceleration failure from the top of the lateral phase and a subsequent consolidation of the price above the level. A bankruptcy could bring new profit taking and return the market to the sellers.
The development of the Covid19 health crisis, The possible third wave, generated by the variant, and by the responses invaccine efficacy against mutation.
Currently the price is just above the EMA (21), almost flat, but still above the High School (200), Simple moving average of 200 periods. The level of Supertrend it is positive and has formed a “floor” in the area 21,271.32. The oscillator RSI (14) is in a neutral phase, while the volatility, represented byATR (14), is slightly higher than the average of the last week.
Finally, theADX it shows a significant decline towards values that underline the absence of a precise trend and the increasingly well-founded presence of a lateral phase.
One long stage it would be plausible only above the static resistance at 22,240 points with an entry in the 22,350 area. A stop loss could be placed at the 21,400 area. The first target could be 23,000 while the second target 24,000 points.
A short position It could be interesting to break the static support at the 21,000 zone with an entry in the 20,860 zone. A stop loss could be entered at 21,600 points. The first target could be located at 20,200 and a second target in the 19,660 area.
The 10 actions under the lens in Piazza Affari
Between FTSEMib40 titles keep monitored Some interesting technical structures are evaluated this week:
• Prysmian continues the rally and breaks the static resistance at € 27.80, closing the short week at the € 28.20 area. From the consolidation base created in March 2020 to the close on Wednesday, the stock posted a performance of approximately + 100%, regaining ground lost during Covid19 and going much further. To date, the price has crossed the area of 27.80 euros and could be heading towards the test of 28.52 euros, the maximum level marked on November 2, 2017 during the session.
• Fiat Chrysler Automobiles (FCA) does not stop its career and advances towards the first goal of 15 euros. The last market sessions were positive and the stock is preparing for its first technical test. A change of scenery in a short perspective would only be possible if the support at the 14.20 zone breaks, which could push the price towards the euro zone of 13.75.
• Ferrari flies with the breaking of the static resistance in the 180 euro zone and breaks the maximum of November 9 at 182.95 euros, closing the three market days at 186.65 euros. Maintaining the current level and continuing in the direction of the uptrend that could lead the price towards the first long target at € 190 is essential.
• Amplifon sits in a consolidation phase above the support in the euro zone of 32.60 and remains within the lateral fluctuation band after the setback occurred in the highs of November 16, 2020. From that price zone , at 36 euros, in fact, a change of direction was triggered to the base created in the support at 32.60 euros. Currently, the stock could continue towards the basic uptrend and attempt to cross the eurozone resistance at 34.50 or pull back and lead the trend down in the short / medium term.
• Interpump is in the test of the 40 euros quota after registering the new provisional historical maximum in the area of 39.50 euros. A change of mind on a bearish outlook could only take place when the medium-term dynamic trend line and static support in the euro area of 36.60 are broken. In this case, however, it could simply be a matter of profit and not an actual correction.
• Moncler backtracks last week despite uptrend. However, the medium-term technical approach remains positive and profit taking appears to be a long-term physiological result. However, it is possible to return to the static support area at 46 euros before a restart. If the stock reacts, the first long target could be in the area of 50 euros, after the violation of the maximum of December 17, 2020. A change of view in a bearish perspective would only be possible below 46 euros.
In the segment MidCap and STAR from the Italian Stock Exchange under the lens, on the other hand, are: SeSa, BB Biotech and Credito Valtellinese (Creval) and in a brief view the stock of De Longhi.
what it is in strong acceleration after breaking the upper part of the lateral oscillation band in which it has been trapped for several months. On December 8, the stock tried to start and after the violation began a sudden rebound that led to the action to close the week in the euro zone of 106.2 with a behavior, from that date until the close of last Wednesday, of + Around 16.45%.
