Milan: Sanlorenzo in the red
(Teleborsa) - The Luxury yacht builder is in negative territory as it trades with a -3.2% loss.Comparing the share price trend with the FTSE Italia Mid Cap on a weekly basis, we see Sanlorenzo maintaining relative strength over the index, as it exploits a greater performance than the index (weekly share performance of +3.54%, versus a +0.78% gain in the index).
According to the short-term technicals, Sanlorenzo will continue its positive development to test the resistance area of 45.07 Euros. There is the possibility of a decline to the 43.17 low. Overall, we expect the stock to breakout and test new resistance at 46.97.
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) 05-16-2024 12:30 PM