Milan: Ferragamo contracts sharply
(Teleborsa) - A day to forget for the luxury maison as it records a strong decline of -4.29% on previous levels.The weekly analysis of the security and the FTSE Italia Mid Cap shows Salvatore Ferragamo losing relative strength against the index.
The technical assumptions for the italian fashion firm's medium-term performance are still downbeat. Yet, positive signs do emerge from the short-term view, with the fastest indicators showing a decrease in downward momentum. At this point, a slowing of the downturn is possible as prices approach 5.813. The most immediate resistance is estimated at 6.103. Expect an intermediate corrective phase which brings prices back into line, with a target of 6.393 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) 11-19-2024 12:30 PM