Milan: Safilo in the red
(Teleborsa) - A bearish session for the sunglasses and eyewear italian producer as it posts a -2.4% fall.The weekly analysis of the security and the FTSE Italia Mid Cap shows Safilo losing relative strength against the index.
The general technical picture shows a contraction, with prices slipping towards the 1.043 Euros level under heavy selling pressure. Conversely, a sudden rebound could find resistance at 1.083. Safilo's downturn is highlighted by the 5-day moving average crossing below the moving average for 8 days. The most coherent scenario is that of an ongoing downtrend towards 1.027.
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) 10-07-2024 12:30 PM