Milan: bullish cue from Stmicroelectronics
(Teleborsa) - Stmicroelectronics puts in a decidedly bullish performance, gaining +3.08%.A comparison of the security and the FTSE MIB index on a weekly basis shows the greater relative strength of Stmicroelectronics, confirming a better performance for the security in comparison to the related index.
The technical picture is visibly deteriorating, with support in the 25.41 Euros area. On the upside, the main exit level is seen at 25.72. Stmicroelectronics's decline is highlighted by the 5-day moving average crossing below the 34-day moving average. In the immediate future we are likely to see a further decline towards a target of 25.21.
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 09:35