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 fell a short distance from 22,000 points. How to read this movement and what to expect now?
The Ftse Mib has started a retracement from the intraday tops scored on 13 September at 22,881 points, gradually approaching the 22,000 area.
The index broke the lows of September 14 at 22,201 points and at this point we have a support at 21.927 points, the break of which will open the door to a descent towards the 21.600 area, with a subsequent projection 21.200 points, reachable if the downside of the markets.
Like the other European indices, the Ftse Mib is discounting the falls affecting the US indices.
In the event of a rebound from the first support, the first target on the upside is in the area of 22,800 / 22,900, with a subsequent landing at 23,200 points.
The view is undoubtedly bearish and a confirmation of this also comes from the analysis of the other indices, European and US.
How do you assess the current approach of the two big names in the banking sector, Unicredit and Intesa Sanpaolo?
Unicredit has exceeded the 11 euro quota, only to go back, and now finds support in the 10.5 euro area.
In the event of a rebound from this threshold, the stock will aim first at 11.19 euros, the maximum of September 15, with extensions towards 11.5 euros before and 12 euros after.
Below 10.5 euros we have a first support at 10.18 / 10 euros, violated which Unicredit slipped up to 9.5 euros.
Intesa Sanpaolo moved above the highs of August to € 1.8786, below which there is a risk of a descent to € 1.8264 first and then up to € 1.75..
Above the peaks of September 15 at € 1.938, Intesa Sanpaolo will be able to aim for € 2, after which there will be room up to the peaks of May 30 at € 2.08.CopyAMP code
Generali fell at the end of the week, while it stopped above the Unipol parity. What can you tell us about these two titles?
Generali shows a bearish trend that has taken over since April, but in July the stock rebounded, then retraced again and found support around 14.5 euros.
The stock now has to deal with the resistances at € 15.48 and € 15.68, with subsequent landings at € 16 before and € 16.5.
Watch out for € 14.86 / 14.84, because the violation of this threshold will see Generali go down to € 14.5 and € 14.
Unipol is defining an uptrend and after the August extension there was a retracement towards € 4, from which the stock then restarted.
The closest support is now at € 4.27, while the top to be breached is in the € 4.48 area, beyond which Unipol will be able to recover up to € 4.8.
Attention to the resistance of 4.27 euros, given that the breaking of this support will lead to a descent towards 4.2 and 4 euros.