(Finance) – The words of the CEO of Unicredit, Andrea Orcel monopolize the market and push up the Milanese bank’s shares.
The shares, in fact, are gaining 1.2%, placing themselves at the top of the main FTSE MIB basket (+0.01%) after the top manager raised his 2024 profit estimates, bringing them to over 9 billion euros, during the Bank of America Financials CEO Conference and, in the match on Commerzbank he kept all options open, reiterating that Commerzbank “is currently an investment, nothing more.”
The stock’s weekly trendline moves in parallel with that of the FTSE MIBto highlight the fact that the movement of thecredit institution is subject to pressure from the market to which it refers, rather than from events related to the title itself.
The medium-term implications of Unicredit confirm the presence of a bullish trend. However, the short-term scenario highlights an exhaustion of the positive strength at the resistance test identified at 37.98 Euro with the first support seen at 37.22. Expectations are for a negative extension in the appropriately short timeframes towards 36.73.