Milan: major selling for Saipem
(Teleborsa) - A negative day for the Italian oil and gas industry contractor as it sheds -3.67%.In the weekly comparison, Saipem's trend is more pronounced than the FTSE MIB trend line, revealing a greater performance when compared to the index.
There are signals for gains in the short-term with the most immediate resistance seen at 2.6 Euros and support of the current trading range at 2.519. Saipem's steady uptrend is supported by the crossing of the 5-day moving average above the 34-day moving average. Based on the technicals, we can expect to see the bulls headed for the 2.681 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) 12-20-2024 09:35 AM