Below is the interview with Gianluigi Raimondi, Gianluigi Raimondi Director of ITForum.it and head of Bluerating Mercati (Bfc Media group) with questions on the Ftse Mib index and on some blue chips.
The Ftse Mib is bouncing after five consecutive declining sessions. What are the expectations in the short term?
That of the Ftse Mib seems to be a rebound of the dead cat. The trend remains set to the downside, at least until the 50-session moving average which at the moment passes at 21 890 points and then the threshold of 22,000 points, short-term static resistance, is not crossed upwards.
Above 22,000 points, the Ftse Mib would exit the bearish channel started in the second half of August, with potential targets over 22,000 points, to 22,595 points first and subsequently in the 23,000 / 23,150 area, or rather on the top of August.
On the other hand, below 21,180 points, a new decline is expected for the Ftse Mib, with objectives at the minimum in July in the 20,420 / 20,400 points area.
Personally, I am more inclined towards a drop in the short term, considering a decisive rise in prices less likely.
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What information can you provide us for two oil stocks such as ENI and Saipem?
ENI is inserted in an ascending channel with a limited angular coefficient. To confirm this trend, the stock will have to return beyond the threshold of 12 euros, with subsequent targets of 12.6 euros first and 13.25 / 13.4 euros later.
A purchase of ENI must be accompanied by a stop loss at 11.4 euros, where the passage of the rising dynamic support and the 50 session moving average coincide at the moment.
Saipem has flattened since the second half of July in the € 0.6845 zone and unless prices fail to exceed € 0.95, the trading range could continue, with a stop loss at € 0.65.
Enel has recently been hit by not a few sales. What is your view on this title?
Enel is again testing the low of last July in the 4.6 euro area. If this level proves to be a valid support, the prices could bounce towards the 5 euros first and towards the 5.2 / 5.4 euros thereafter.
How do you assess the current setup of CNH Industrial and what strategies can you suggest for this title?
CNH Industrial is rebounding from the short-term static support, which coincides with the 50-day moving average at € 11.85.
More concretely bullish signals, however, would be seen only over 12.45 euros, where the moving average at 21 sessions passes.
Over 12.45 euros, CNH Industrial will be able to rise to 13 euros before and 13.8 euros after, with stop losses below 11.85 euros.
Are there any other titles you want to tell us about in Piazza Affari?
I am monitoring Buzzi Unicem which will return to the Ftse Mib next September 19th. At the moment the stock is in a downtrend trend, but he is trying to curb the decline.
The eventual confirmation of the overcoming of the static resistance, coinciding with the 50-day moving average, at 17 euros, would favor an extension of the prices towards the area between 18 and 18.4 euros.
For those wishing to buy Buzzi Unicem I suggest setting a stop loss at 16.4 euros.
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