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Milan: gains for Stmicroelectronics
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Analysing the security's performance against the FTSE MIB index on a weekly basis, we discover that the security is perfectly in line with the benchmark in terms of relative strength.
The technical assumptions for Stmicroelectronics'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 27.75. The most immediate resistance is estimated at 27.99. Expect an intermediate corrective phase which brings prices back into line, with a target of 28.23 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) 08-16-2024 09:35 AM