Today was a really positive day for Piazza Affari. Those who have followed the indications that our team of Stock Projection Experts gave today, in the opening article of the markets, will be able to celebrate.
And it celebrates Piazza Affari thanks to a beautiful session that opens up to possible new rises. Although it was Friday and therefore the day when sales are generally triggered to avoid being with open positions during the weekend.
A beautiful session that opens up to possible new hikes
For the fourth time, the Milan stock exchange defeated the curse of Friday ending up. As we wrote in this morning’s article from these columns, in the three previous Fridays the Milanese price list had closed higher and so it could have been today. And so it was.
At the start of the session, the Ftse Mib index (INDEX:FTSEMB) got off to a flying start and after less than an hour reached the resistance in the area of 19,250 points. Then throughout the morning, prices moved between 19,250 and 19,280 points, following a lateral trend that showed some uncertainty.
Prices could not definitively cross the resistance, but they did not go down. Finally, around 13.00, they found the strength to break through and went up to the 19,400 points zone.
But it didn’t last long, news of a weak Wall Street opening reported some selling. Certainly due to profit taking after the last two positive days.
The Milan Stock Exchange defeated the curse of Friday ending up
At the end of the session, the Ftse Mib index closed with a gain of 1.1% at 19,285 points. An undoubtedly positive result, which now opens up new perspectives for Piazza Affari for the next sessions.
Among the stocks in evidence, the leap of Pirelli, which today gained over 8%, closing at 4.10 euros. The jump is due to a positive opinion of an investment house, which estimates the correct value of the stock at € 4.70.
But the stock also rose thanks to the accounts of rival Michelin, which in the quarter saw revenues drop by only 5%. News that bodes well for Pirelli’s accounts.
The share has a resistance of 4.13 euros which, if overcome, would push prices up to the June highs of 4.45 euros. While a return below 4.00 euros would be negative.
Deepening
To know the multidays analysis and the point of view of the international markets of the ProiezionidiBorsa Study Office, click who.
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