Milan: Cembre falls
(Teleborsa) - The Manufacturer of electric connectors and installation tools slides steadily, trading -1.89% down on previous levels.The weekly analysis of the security and the FTSE Italia Mid Cap shows Cembre losing relative strength against the index.
The technical picture is visibly deteriorating, with support in the 35.97 Euros area. On the upside, the main exit level is seen at 36.82. Cembre'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 35.68.
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) 11-14-2024 09:35 AM