Milan: Tenaris moves up
(Teleborsa) - Tenaris achieves a significant increase, gaining +1.89% on previous levels.Comparing the share price trend with the FTSE MIB on a weekly basis, we see Tenaris maintaining relative strength over the index, as it exploits a greater performance than the index (weekly share performance of +4.13%, versus a +0.51% gain in the index).
The technical status of Tenaris shows that the security's performance is increasing in the short term, with the first resistance area identified at the 15.2 Euros level. There is the risk of a possible correction towards the target of 14.99. Yet, we expect a rise of the bullish trend line towards the resistance area at 15.42.
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) 10-29-2024 09:35 AM