Below is the interview with Gianluigi Raimondi, technical analyst and co-founder of Finanzaoperativa.com, with questions on the Ftse Mib index and some blue chips.
The Ftse Mib is also losing ground today and putting pressure on the lows of the last sessions. What scenarios lie ahead in the short term?
Already this morning I was surprised by the reaction of Piazza Affari which, after an initial drop, has regained altitude, despite the thrust accused yesterday by Wall Street and in particular by the Nasdaq Composite.
I was also expecting a decline in our market which apparently materialized again in the afternoon, in the wake of the new decline affecting the US stock indices.
From a technical point of view, in the morning the Ftse Mib attempted to rebound from the short-term static and medium-term dynamic support in the 19,500 area, the threshold put under pressure again in the afternoon.
The level in question will be crucial because below it would be a return of the Ftse Mib at 19,000 points, the lower limit of the trading range in which the prices have fluctuated since the second half of last June.
With a holding of area 19,500 and a rebound from this threshold, the index could first return to 20,140 points, then to 20,500 points and eventually towards a new test of 21,000 area.
Banco BPM today stands out among the blue chips, while Bper Banca remains at the stake. What information can you give us for these two titles?
Banco BPM is following a movement in the trading range which started at the beginning of June and is between 1.225 and 1.566 euros.
Only beyond this last level could the stock rise decisively and in that it will have as its objectives the area of € 1.9 first and then the area between € 2 and € 2.1.
A long positioning on Banco BPM must now be accompanied by a stop loss at 1.22 euros, below which there will be a turnaround, with the risk of a return to the lows of May at 1.15.
Bper Banca is testing the medium-term upward trendline which at the moment passes to 2.1 euro.
It will be very important to maintain this level in order to witness a technical rebound towards 2.4 / 2.5 euros first and then towards 2.7 / 2.75 euros.
Below € 2.1, which becomes the stop loss of any long operations, Bper Banca will risk a decline of up to € 1.8.
Telecom Italia remains in the spotlight in the wake of the recent newsflow. What can you tell us about this title?
From a purely technical point of view, Telecom Italia is graphically inserted in an ascending channel from the lows of last March and the aforementioned channel has a somewhat reduced angular coefficient.
This allows the technical indicators to stay away from the overbought zone and therefore allows the stock to rise in a healthy way.
From an operational point of view, the next objectives for Telecom Italia are identified at € 0.4313, where a gap-down was opened at the last mark, and then at € 0.458, with a subsequent target of € 0.475 / 0.478.
A purchase of Teleco Italia will be accompanied by a stop loss at € 0.382, where the 21 session moving average and the medium-term rising dynamic support currently coincide.
Mediaset shines today after the ruling of the EU Court of Justice. What is your view on this title?
Mediaset, after the EU pro-Vivendi ruling and the launch of Fininvest in tlc risk, today also marked a double-digit rally.
With volumes three times the monthly average, the stock surged past the descending trendline at € 1.63, which prevented prices from undertaking an uptrend from the second half of last June.
Only after passing € 1.84, where we find medium-term static resistance, will we be able to see the development of an uptrend which could develop after some profit taking following today’s rally.
The next bullish movement will target first € 1.84 and then the € 2.05 area, with stop loss below € 1.63.
Are there any other titles you want to tell us about on Piazza Affari?
I am following Nexi who is trying to reverse course after today’s test at 14.3 euros of the short-term descending dynamic support.
Confirmation of the inversion would occur at the possible upward crossing of the 21-session moving average currently passing at 15 euros.
Beyond this level, I report two goals for Nexi at 15.6 and 16 euros, with subsequent projection on the highs of August in the area of 16.5 euros.
For those wishing to buy the stock, I suggest setting a stop loss at 14.3 euros.
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