Milan: positive day for Banco Bpm

(Teleborsa) - Marked growth for Banco Bpm as it records a +2.67% improvement on previous levels.

Comparing the share price trend with the FTSE MIB on a weekly basis, we see Banco Bpm maintaining relative strength over the index, as it exploits a greater performance than the index (weekly share performance of +4.05%, versus a +0.66% gain in the index).

Banco Bpm's medium-term scenario corroborates its negative trend. However, an analysis of the short-term chart gives a first indication that the bears are on the way out, with the share price rising towards first resistance in the 6.45 area. Support is at 6.248. Further positive moves would support the case for a new high in the 6.652 area.

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) 07-03-2024 12:30 PM