Milan: Stmicroelectronics negative
(Teleborsa) - Stmicroelectronics is in negative territory as it trades with a -2.02% loss.The weekly analysis of the security and the FTSE MIB shows Stmicroelectronics losing relative strength against the index.
The technical picture is visibly deteriorating, with support in the 24.31 Euros area. On the upside, the main exit level is seen at 24.87. Stmicroelectronics's decline is highlighted by the 5-day moving average crossing below the 34-day moving average. In the immediate future we are likely to see a further decline towards a target of 24.09.
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) 11-01-2024 09:35 AM