It was a defense session for Piazza Affari. An entrenchment in order not to sell positions, which has allowed prices not to collapse, despite the sharp decline in the main banking stocks. It was a witch’s day for banks in danger of collapse. Let’s see why, thanks to the analysis of the Proiezionidiborsa Studies Office.
Defense for the Milan Stock Exchange
In Piazza Affari it was a negative session, but you can be satisfied because it could have been even worse. Unfortunately, you have already read this observation other times on these columns and this is the measure of what Piazza Affari is today. A stock market unable to rise and which strenuously defends the positions, entrenching itself in defense.
And this is what happened in this last session of the week, in which the Ftse Mib index (INDEX:FTSEMIB), closed down 1.1% to 19,524 points. All in all a not dramatic result for the criticality that presented the day.
Today was a session full of pitfalls. First of all it was the last day of the week and therefore subject to investor profit taking. Furthermore, yesterday the US stock market closed lower and this could induce investors to sell right from the start of trading. Plus today was the day of the three witches. That is the session in which the maturities of options and futures on indices and shares coincide.
Witches day for banks that risk collapse
And the witches on the stock market have been seen but in the banking sector, which once again experienced a terrible day. The worst action among the blue chips was Bper Banca, which lost 4%. The day of Unicredit was also heavy as it sold 3%. Banco BPM lost 2.2% and Intesa 1.6%.
Instead, it was a positive day for Diasorin, who gained almost 6% thanks to the EU authorization for anti-Covid salivary tests. The news sent prices up to 169.5 euros, and then closed at 167.5 euros.
Next week, exceeding 170 euros will push the stock to the first target of 175 euros. On the other hand, a return of prices below 162.7 euros will be negative, which will push the stock to support at 157 euros.
Deepening
To know the multidays analysis and the point of view of the international markets of the ProiezionidiBorsa Study Office, click who.
–
