Milan: Safilo trades in negative territory
(Teleborsa) - A bearish session for the sunglasses and eyewear italian producer as it posts a -1.83% fall.Comparing the share price trend with the FTSE Italia Mid Cap on a weekly basis, we see Safilo maintaining relative strength over the index, as it exploits a greater performance than the index (weekly share performance of +4.69%, versus a +0.25% gain in the index).
Although the medium-term outlook for Safilo remains negative, we find an increasing upward movement in the short term, with the most immediate resistance at 1.072. Support is at 1.072. The technicals favour a new upswing to the 1.072 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) 10-03-2024 09:35 AM