Milan: bullish cue from Saipem
(Teleborsa) - The Italian oil and gas industry contractor increases its performance, climbing +2.41%.A comparison of the security and the FTSE MIB index on a weekly basis shows the greater relative strength of Saipem, confirming a better performance for the security in comparison to the related index.
The technical status of Saipem shows that the security's performance is increasing in the short term, with the first resistance area identified at the 2.104 Euros level. There is the risk of a possible correction towards the target of 2.059. Yet, we expect a rise of the bullish trend line towards the resistance area at 2.149.
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) 24-09-2024 12:30