Milan: MFE B suffers sell-offs
(Teleborsa) - The Broadcasting television mass media company trades deep in the red, showing a percentage loss of -4.08%.Comparing the share price trend with the FTSE Italia Mid Cap on a weekly basis, we see MediaForEurope maintaining relative strength over the index, as it exploits a greater performance than the index (weekly share performance of +10.3%, versus a +1.69% gain in the index).
There are signals for gains in the short-term with the most immediate resistance seen at 4.691 Euros and support of the current trading range at 4.493. MFE B'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 4.889 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) 07-12-2024 12:30 PM