Milan: Stmicroelectronics deep in the red
(Teleborsa) - Stmicroelectronics is in disarray as it suffers losses of -4.93%.In the last week Stmicroelectronics underperformed the FTSE MIB index, therefore showing a lower performance than the benchmark.
New technical evidence points to a decline of Stmicroelectronics's stock price, which could hit the most immediate support seen at the 25.9 Euros level. However, a sudden rebound would undermine the above scenario by triggering a bullish rise, with the most immediate resistance of 26.9 as a new target. In the next session we can expect a continuation of the downtrend to the key support level of 25.31.
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) 08-05-2024 09:35 AM