Milan: bullish cue from MPS Bank
(Teleborsa) - Another bullish cue from Monte Paschi as it trades with a good +3.51% gain.A comparison of the security and the FTSE MIB index on a weekly basis shows the greater relative strength of bank of Siena, confirming a better performance for the security in comparison to the related index.
Although the medium-term outlook for Banca Monte Paschi remains negative, we find an increasing upward movement in the short term, with the most immediate resistance at 4.823. Support is at 4.702. The technicals favour a new upswing to the 4.944 area.
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) 07-03-2024 09:35 AM