The fall on Telecom Italia can wait – projectionsdiborsa.it
In the last 20 years, or rather since the beginning of the new millennium, Telecom Italia has been one of the great sufferers of Piazza Affari. In fact, since the highs of 2000, the stock has lost more than 95% and has never given lasting signs of recovery. Now, after the historic lows reached in 2022, the decline on Telecom Italia can wait. In fact, the weakness of the last few sessions could be winding down and, above all, it does not present aspects that could worry the bulls. Obviously this scenario will have to pass the test of facts, and will be evaluated and monitored from time to time. What to expect now in the next few days?
The fall on Telecom Italia can wait: the prospects for the next sessions according to the graphic analysis
The title Telecom Italy (MIL:TIT) closed the January 25 session down by 0.35% on the previous session at 0.2565 euros.
They are 28 consecutive sessions that the trend in progress, identified through the intersection of the averages, it is bullish. Such a sustained rise has not been seen since 2019. On that occasion the upward sequence of sessions stopped at 32.
However it should be noted that it’s now about 10 sessions that prices are in a sluggish phase and are moving in a narrow sideways phase. All this has caused the averages to approach which could lead to a bearish crossing within a few days. The only positive we have seen in this downtrend is declining volumes. In fact, during the bearish sessions, we witnessed a systematic decrease in volumes compared to the average of the previous five days.
There are two aspects that could negatively influence Telecom’s performance which should not be overlooked. The first is related to the fact that quotes are in an overbought situation. The second is related to proximity of the resistance area, €0.255from which in July of last year, after a month of lateral phase, the last bearish leg started which led to new historic lows.
Obviously, exceeding this level could lead to reaching the €0.28 area first, followed by €0.37 and €0.45 area.
Strong upward trend underway on Telecom Italia stock
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