Milan: bullish cue from Iveco
(Teleborsa) - The Italian multinational transport vehicle manufacturing company puts in a decidedly bullish performance, gaining +2.68%.Analysing the security's performance against the FTSE MIB index on a weekly basis, we discover that the security is perfectly in line with the benchmark in terms of relative strength.
Iveco's medium-term technicals confirm its negative trend line. Yet, in the short-term view the downturn looks less marked, and we could see a reversal towards the 10.88 resistance level. On bullish cues the stock could reach the target high of 11.25, while first support is seen at 10.51.
These analyses are to be considered solely for information purposes and are not in any way intended to constitute financial advice, a solicitation of funds from the public or the promotion of any form of investment.
(Teleborsa Research Department)
(Teleborsa) 07-09-2024 09:35 AM