Milan: bullish cue from Stmicroelectronics
(Teleborsa) - Positive results for Stmicroelectronics as it rises +2.82%.For good or for bad, Stmicroelectronics's movements during the last week have followed the FTSE MIB's trend. Thus the reference market currently has a greater influence on the share price than any company-specific news.
New technical evidence points to a decline of Stmicroelectronics's stock price, which could hit the most immediate support seen at the 37.65 Euros level. However, a sudden rebound would undermine the above scenario by triggering a bullish rise, with the most immediate resistance of 38.67 as a new target. In the next session we can expect a continuation of the downtrend to the key support level of 37.
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) 05-07-2024 09:35 AM