Milan: Stmicroelectronics in the red
(Teleborsa) - Stmicroelectronics is bearish as it trades -2.74% down.The weekly analysis of the security and the FTSE MIB shows Stmicroelectronics losing relative strength against the index.
Stmicroelectronics'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 38.67. Support is at the 37.23 level. Further bullish cues would suggest a new target price in the 40.1 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) 04-25-2024 09:35 AM