Milan: Ferretti falls

(Teleborsa) - The Manufacturer of luxury yachts slides steadily, trading -2.26% down on previous levels.

Comparing the share price trend with the FTSE Italia Mid Cap on a weekly basis, we see Ferretti maintaining relative strength over the index, as it exploits a greater performance than the index (weekly share performance of +3.19%, versus a +1.24% gain in the index).

While the medium-term scenario still looks bearish, the short-term structure shows some promising signs, with support at 2.563 holding strong. The positive movement in the short term indicates a potential reversal of the bearish trend, with the possibility of prices flirting with the key resistance level of 2.633. Thus there is a good chance of the bullish phase continuing towards the 2.703 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) 16-09-2024 12:30