Below is the interview with Alessandro Cocco, CEO of Unicron Associates, to whom we asked some questions about the Ftse Mib index and various blue chips.
The Ftse Mib came to put pressure on the 26,500 area at the end of the week. What are the possible scenarios now?
The Ftse Mib in last Thursday’s session finally managed to break the 26,224 points, corresponding to the highs of September 28th and is now heading towards the top of August 13th at 26,687 points.
If the index is able to overcome this obstacle, it will be able to point towards the 27,000 area, otherwise there could be a pull-back towards 26,224 points and then start up again.
Any collapse of the level just indicated could lead the Ftse Mib to close the gap left open in the 25,950 area.
In case of abandonment of this last threshold, the index will risk falling to 25,600 points.
In the short term, my view is positive and I expect the Ftse Mib to rise to at least the highs of the year, beyond which there will be room for up to 27,000 points and 27,200 points thereafter.
For some sessions, Banco BPM has been showing more strength than Bper Banca. What can you tell us about these two titles?
Banco BPM at the end of the week tried to break the resistance at 2.86 euros, stopping just below.
Beyond the level just indicated, the stock will be able to rise towards € 3.15, after which there will be room up to the highs of 8 June at € 3.93.
Failure to breach the € 2.86 could cause Banco BPM to fall back towards € 2.75 and € 2.7.
Bper Banca has recovered the losses that have occurred since approximately the first half of June.
The stock has restarted from 1.7 euros and now travels around the 2 euro area, signaling that a break up from the highs of 11 October will allow it to reach the top of 25 May at 2.174 euros.
Much attention to the lows of 13 October at 2.021 euros, an important support that Bper Banca must not violate to avoid a retracement towards 1.95 and 1.9 euros.
Enel yesterday went against the trend compared to the Ftse Mib. Better to stay away from the title now?
Enel has been showing a negative trend since last May, but the real collapse has occurred since September.
The price has stabilized somewhat since the second half of last month, with the stock hitting a low on October 1 at € 6.55 and another rising low on October 12 at € 6.772.
Now Enel will have to violate the highs of 8 October at 6.997 euros, beyond which the doors will open for a rise of up to 7.4 euros.
However, if the stock fails to provide new insights to the upside, it will be necessary to take into account a retreat towards € 6.7 first and then towards the lows of early October at € 6.55.
Generali seems to have targeted the 19 euro area. What operational advice can you give us for the title?
Generali is doing well and recently reached a maximum of 18.99 euros, redeeming itself after the congestion seen between March and mid-August.
The view on the stock remains positive and in the event of a violation of the tops of 12 October 18.99 euros, Generali will be able to push forward up to the area of 19.2 / 19.4 euros.
On the downside, look at last Thursday’s lows of 18.635 euros, below which the stock will drop towards 18.4 euros and then towards the lows of 1 October at 18.075 euros.
For the moment I would say that we can be calm about Generali as the trend is quite healthy at the moment.
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”.