Milan: major selling for Ferretti
(Teleborsa) - The Manufacturer of luxury yachts slides steadily, trading -2.15% 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 +2.44%, versus a +0.06% gain in the index).
The current scenario shows Ferretti stock stagnating, with a possible test of support at 2.708 Euros. On the upside, positive cues could see prices moving north to test the 2.773 level. The technicals favour a continuation of the bearish phase towards new lows at 2.687.
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) 12-02-2024 12:30 PM