Milan: MPS Bank struggles in tough session
(Teleborsa) - Monte Paschi is in disarray as it suffers losses of -3.81%.On a weekly basis, the stock is trending higher than the FTSE MIB. The performance of bank of Siena, in fact, has been higher than the related benchmark index.
The technical status of Banca Monte Paschi shows that the security's performance is increasing in the short term, with the first resistance area identified at the 5.073 Euros level. There is the risk of a possible correction towards the target of 4.869. Yet, we expect a rise of the bullish trend line towards the resistance area at 5.277.
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) 07-25-2024 12:30 PM