Milan: Ferretti soars after buying spree
(Teleborsa) - A great day for the manufacturer of luxury yachts, which posts a rise of +4.89%.Ferretti is trending in accord with the FTSE Italia Mid Cap, which makes the security a low alpha asset, that does not yield returns above and beyond its benchmark index.
The technical picture is visibly deteriorating, with support in the 2.73 Euros area. On the upside, the main exit level is seen at 2.83. Ferretti'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 2.67.
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) 11-05-2024 09:35 AM