Milan: gains for Iveco
(Teleborsa) - The Italian multinational transport vehicle manufacturing company puts in a decidedly bullish performance, gaining +2.28%.Comparing the share price trend with the FTSE MIB on a weekly basis, we see Iveco maintaining relative strength over the index, as it exploits a greater performance than the index (weekly share performance of -1.04%, versus a -3.01% gain in the index).
The technical picture is visibly deteriorating, with support in the 11.25 Euros area. On the upside, the main exit level is seen at 11.59. Iveco'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 11.03.
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) 05-24-2024 12:30 PM