Milan: strong day for Saipem
(Teleborsa) - The Italian oil and gas industry contractor puts in a decidedly bullish performance, gaining +2.42%.
A comparison of the security and the FTSE MIB index on a weekly basis shows the greater relative strength of Saipem, confirming a better performance for the security in comparison to the related index.
The technical picture for Saipem suggests that the bearish trend is to continue towards a test of the 2.171 Euros floor, while the 2.214 area represents the current price ceiling. The outlook is for an extension of the downtrend to test new lows identified at the 2.143 level.
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) 05-06-2024 09:35 AM
A comparison of the security and the FTSE MIB index on a weekly basis shows the greater relative strength of Saipem, confirming a better performance for the security in comparison to the related index.
The technical picture for Saipem suggests that the bearish trend is to continue towards a test of the 2.171 Euros floor, while the 2.214 area represents the current price ceiling. The outlook is for an extension of the downtrend to test new lows identified at the 2.143 level.
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) 05-06-2024 09:35 AM