Milan: bullish cue from Webuild
(Teleborsa) - Positive results for the global player in large, complex infrastructure projects as it rises +2.63%.A comparison of the security and the FTSE Italia Mid Cap index on a weekly basis shows the greater relative strength of Webuild, confirming a better performance for the security in comparison to the related index.
Webuild's medium-term situation remains bearish. However, looking at the short-term chart it would be fair to dismiss the possibility that the downtrend will continue for long. An upswing is thus expected, with first resistance at 2.369. Support is at the 2.297 level. Further bullish cues would suggest a new target price in the 2.441 region.
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) 04-29-2024 12:30 PM