Those Banco BPM are among the shares that have outclassed the Ftse Mib
The session of 7 February was characterized by a flat performance so much so that the Ftse Mib closed with a fractional rise of 0.36%. An exceptional result in any case given that the other main European indices, such as the DAX and the CAC40, closed in negative territory. In such a weak and contrasted context, some shares stood out that outclassed the Ftse Mib with very important increases. For example, Saipem closed with an increase of 5.19%, Telecom Italia with an increase of 2.16% and Banco BPM with an increase of 1.90%.
These three stocks have also stood out year-to-date with gains of more than 20%. In the specific case of Telecom Italia, then, the increase is currently more than 35%. We recall, however, that stocks such as Unicredit and STMicroelectronics have accumulated increases of around 40% in just over a month. Among the shares that have outclassed the Ftse Mib we will focus on the Banco BPM, one of the best stocks of the last year together with Saras, Brunello Cucinelli and Leonardo.
The indications of the graphic analysis on Banco BPM stock
The title BPM desk (MIL:BAMI) closed the session of 7 February in the 4.295 euro area, up 1.90% on the previous session.
Long rise in progress on the Banco BPM stock which is far from a bearish cross of the averages
As you can see from the graphthe trend, as identified by the crossing of the averages, is bullish for 37 consecutive sessions. The last time it lasted that long was in 2012. This track record, however, is set to grow. The second longest sequence in history has been recorded in 2009 and was equal to 40. A record that could be broken in the course of the next sessions. The absolute recordhowever, had been recorded in 2007 with 51 consecutive upward sessions. We’ll see if after 16 years this record will be broken.
The SwingTrading Indicator is also set to bullish and has marked a 39 consecutive session bullish pattern not seen on the stock since as far back as 2009.
The Banco BPM graph gives us the opportunity to return to a very important aspect. Shares have been in overbought territory since the beginning of the year, but that hasn’t stopped the stock from continuing to rise.
To conclude, we can say that Banco BPM shares could still continue to rise and that any retracements could be an opportunity to buy.
