Milan: downside move for Stmicroelectronics
(Teleborsa) - Stmicroelectronics is -2.92% down on previous levels after a steady fall.The technical scenario for Stmicroelectronics in the last week shows the security lagging behind the FTSE MIB. As compared to the related index, the security has shown a lower performance.
The medium-term technicals on Stmicroelectronics remain upbeat. In contrast to the stock's current performance, short-term indicators show its momentum decelerating. At this point, it should come as no surprise, if the growth phase slows as it approaches 39.8. The most immediate support is at 38.27. Expect an adjustment phase to correct medium-term excesses, with a target price of 37.64 to be reached in the near future.
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) 06-19-2024 12:30 PM