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Below is an interview with Enrico Malverti, Quant Analyst Ematrend SRL, with questions on the Ftse Mib index and some blue chips.
The Ftse Mib travels just below the highs of the year. Are there the conditions for new extensions in the short term?
In the last few sessions, the Ftse Mib has had a good breath after a long run.
I believe that the uptrend is not over, but at the same time I think that there may still be some lateral sessions.
A consolidation above 27 thousand points is possible before giving the assault to 28 thousand points, a likely goal by the beginning of December.
A breakdown of this support would instead change the scenario for the Ftse Mib, decreasing the chances of seeing a resumption of the rally.
How do you evaluate the current structure of Banco BPM and Bper Banca and what strategies can you suggest for both?
BPER Banca is significantly underperforming the benchmark index. Sooner or later, when we talk about banking risk again, it will wake up.
However, it is no mystery that some management decisions have penalized the price trend of BPER Banca, which technically needs to return above 2 euros to generate a bullish reversal signal.
Banco BPM’s situation is slightly better, given that the stock is still in a modest uptrend channel, although it is also weaker than the market average.
Ferrari is close to new all-time highs, while Stellantis is trying to regain 18 euros. What is your view on both?
Ferrari was the best title of the last two weeks and I believe that after having disposed of the short-term overbought, it will be able to return to the maximum.
But be careful, because I doubt he can maintain this strength: it would already be a good thing that Ferrari managed to consolidate above 220 euros.
Stellantis is much weaker, but I believe that the target of 18 euros by the end of the month may be plausible.
What information can you give us for two industrialists like Pirelli and Leonardo? What are the levels to keep an eye on?
Pirelli got off to a great start today, breaking the resistance at € 5.60, and it seems to be heading towards the target of € 6.20.
Leonardo, on the other hand, is still very weak and is unable to recover: as long as he does not give a signal of strength above € 6.70, I fear that the trend will not change.
Which stocks are you following most closely in this market phase? Which ones do you recommend to look at now?
The stocks that are on my watchlist these days are Azimut, Banca Generali, Finecobank, Poste Italiane, Moncler, A2A, Ferrari.
Nexi is also waking up and deserves to be monitored.
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Trend-online Deputy Director, born in 1978.
After completing his studies at the Classical High School “Antonio Calamo” of Ostuni I entered the world of economics.
For about twenty years I have been dealing with Stock Exchange and Finance. After having worked as a financial promoter for several years, in 2005 I joined the Trend-online team as an editor, to later become deputy director of the cylinder head. Among other countless activities, I take care of maintaining relationships with all the experts, analysts and traders, consulted daily by Trend-online.
My motto is? “Life is like a mirror, if you look at it smiling it will smile at you”.
