Milan: Carel Industries in the red
(Teleborsa) - The Manufacturer of air conditioning and refrigeration control systems is in the red with a -2.99% loss.Comparing the share price trend with the FTSE Italia Mid Cap on a weekly basis, we see Carel Industries maintaining relative strength over the index, as it exploits a greater performance than the index (weekly share performance of +0.8%, versus a +0.01% gain in the index).
As Carel Industries's technical picture weakens, the stock could test the 17.22 Euros area, while moves in the opposite direction would hit first resistance at 18.1. Expect a continuation of the bearish trend towards the 16.9 level.
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) 11-21-2024 12:30 PM