Milan: downside move for Saipem

(Teleborsa) - The Italian oil and gas industry contractor is in negative territory as it trades with a -3.56% loss.

Saipem's weekly trend is more sluggish than the benchmark's movements, showing a downswing performance in comparison to the related FTSE MIB index.

Analysis of the technicals reveals that Saipem is headed further south to test support at 1.923 Euros. First resistance is at 2. Expect the downtrend to extend towards new lows around 1.895.

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) 03-09-2024 12:30