Milan: bullish cue from Tenaris
(Teleborsa) - Tenaris increases its performance, climbing +2.57%.Tenaris is trending in accord with the FTSE MIB, which makes the security a low alpha asset, that does not yield returns above and beyond its benchmark index.
The technical picture is visibly deteriorating, with support in the 14.16 Euros area. On the upside, the main exit level is seen at 14.49. Tenaris'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 13.95.
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) 06-28-2024 09:35 AM