As expected in our previous analysis (After a 70% rise since the beginning of the year, is it time to sell OVS shares?), the failure to break the 1,844 euro area at the end of the week caused a retracement of the prices. With the week that has just ended, however, we have had confirmation that the tracking was nothing more than a purchase opportunity to achieve objectives in the area of 3.57 euros.
In fact, with a 10% rise, OVS quotes gave a buy signal for the Swing Indicator. Furthermore, the volumes traded have been increasing both from the previous weeks and from the zero lag exponential moving average to 20 and periods. The only discordant note is the failure to break the resistance in the 1.738 euro area. This level represents the first obstacle along the bullish path which has its first price target in the 2.17 euro area. As already mentioned, then, the maximum extension of the rise is in the 3.57 euro area for a potential rise of over 100%. With a little effort, OVS shares could go up by more than 100%.
Failure to break the week close of aera of € 1.738 followed by a weekly close of below € 1.5 could result in a reversal of the bearish trend.
It should be noted that in the last week on the OVS share there was a capital increase which took place according to the following timelines: the rights can be exercised from 12 to 26 July and negotiable between 12 and 20 July. Tamburi Investment Partners, which holds 23.32% of the capital, and the CEO Stefano Beraldo (who owns 1.024%) have undertaken to fully adhere to the capital increase
From the point of view of the analysts who cover the stock, the average consensus is to buy with a target price that expresses an undervaluation of around 20%.
With a little effort, OVS shares could go up by more than 100%: the indications of the graphical analysis
The title OVS (MILOVS) closed the session on 23 July at € 1.729, an increase of 0.93% compared to the previous session.
Weekly time frame
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