Teleborsa News

Milan: major selling for MPS Bank

News Image (Teleborsa) - Monte Paschi is in negative territory as it trades with a -2.5% loss.

Bank of Siena is trending in accord with the FTSE MIB, which makes the security a low alpha asset, that does not yield returns above and beyond its benchmark index.

The medium-term technicals on Banca Monte Paschi remain upbeat. In contrast to the stock's current performance, short-term indicators show its momentum decelerating. At this point, it should come as no surprise, if the growth phase slows as it approaches 4.997. The most immediate support is at 4.913. Expect an adjustment phase to correct medium-term excesses, with a target price of 4.88 to be reached in the near future.

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 09:35 AM

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