Milan: Saipem sees boost
(Teleborsa) - Vigorous the Italian oil and gas industry contractor soars as high as +4.37% over previous levels.On a weekly basis, the stock is trending higher than the FTSE MIB. The performance of Saipem, in fact, has been higher than the related benchmark index.
Saipem's medium-term situation remains bearish. However, looking at the short-term chart it would be fair to dismiss the possibility that the downtrend will continue for long. An upswing is thus expected, with first resistance at 1.973. Support is at the 1.923 level. Further bullish cues would suggest a new target price in the 2.023 region.
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) 16-09-2024 09:35