Play the referendum and the break above MA200: Buy.IMPROVING FUNDAMENTALS?
The consensus is lukewarm: Mild BUY with 10% target upside
But the yield (up) and market (up) environments have been improving
The Italian referendum is unlikely to impact materially this global insurer
Valuation remains compelling at <80% of book value
IMPROVING TECHNICALS
Clear support line formed since the summer - Current level 11.50
Yesterday attempted to break main resistance by closing > 12.20
Yesterday also closed above MA200 at 12.00 - Another positive sign
Looks slightly over-extended on short/mid term as it is trading at the hi bollinger band
LONG-TERM LONG
Stock price reference 12.16 (now)
Go long here with 13.00 and then 14.00 (+15%) targets
Stop-loss at 11.25 (-7.5%), just below the 11.50 support
RR 2x
Referendum fears: Trade half size before Sunday and another half after Sunday.
MORE CAUTIOUS INVESTORS: USE PUT OPTIONS
Selling 16dec16 Eur 11.50 puts brings in 0.21/share (yield 1.7% in 14 days or 44.45% per annum)
Selling 20jan17 Eur 11.50 puts brings in 0.37/share (yield 3.04% in 49 days or 22.62% per annum)
BANCA POP. EMILIA ROMAGNA long H1Buy stop @ 4.03
Stop loss @ 3.94
Take profit @ 4.16
Loss = 0.09
Profit = 0.13
Salvatore FerragamoThe last movement has confirmed a breakout of a congestion zone. I will wait for more pullback to 21.35 euros to actívate a long trade.
ISPM (INTESA SANPAOLO) LONG LONG POSITION
ENTRY POINT: 1° tranche <= 1,970
STOP LOSS <= 1,852
TAKE PROFIT: follow our updates and sign in www.tradingbusiness.it
Unicredit break trendlineUnicredit broke trendline at 2.30 area. Good RR for a long trade towards 2.8
new: 1° Long MEDIOBANCA (MB)!TIPO: LONG
ENTRY POINT: mezza tranche = non più alto di 6,880 euro
STOP LOSS <= 6,590 euro
1° TAKE PROFIT: 7,300-7,400 euro circa
#UNICREDIT - NEXT EUROPEAN BANK WITH A BREAKOUTUnicredit is the next European Bank to stage an impressive base breakout. EU Banks are at a turning point, outperforming, and have a lot of catch-up to do. Technicals look great. Unicredit appears to move into a vacuum and I see immediate upside into 2.75/.77
I'm a chart analyst, not a fundamental analyst, but here are a few thoughts what could drive EU Banks outperformance. Fundamentals continue to look awful, however there are a few tailwinds from:
- bank CEO acknowledging structural weaknesses (DBK CEO y'day)
- serious consolidation talks
- FED rate hikes
Maire Tecnimont [MT] - Making a tringle?Hi guys,
trend making a tringle, in the same time volume is decreasing..if trend breaks up with a confirm maybe trends go up.
What do you think? Share your point of view.
ENIM - ENI SPA GOING FOR MORE DOWNSIDE?ENI seems in a downtrend continuation into a descending channel. I'm expecting one more test on lower channel before a possible breakout to the upside. Now the price is breaking the rising correction with a bearish divergence.
