Milan: Tenaris up as buyers show interest
(Teleborsa) - Effervescent Tenaris records a decidedly positive performance of +5.63%.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 +8.18%, versus a -0.17% gain in the index).
According to the short-term technicals, Tenaris will continue its positive development to test the resistance area of 16.62 Euros. There is the possibility of a decline to the 15.84 low. Overall, we expect the stock to breakout and test new resistance at 17.4.
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) 11-06-2024 09:35 AM