a nice short opportunity for TENARIS.
Daily candle has broken out a multi-month ascending channel.
First target at 13.50, where we can visualize a strong horizontal support.
See you soon,
Italian shipbuilder Fincantieri FCT have delivered a higher revenue in the first quarter of 2018, mainly driven by the increase in the volumes of the cruise ships business. Their full year 2018 results are expected to be consistent with the 2018-2022 Business Plan targets. For 2018, the group confirms a growth in revenues of 3/6% and an EBITDA margin around...
As mentioned in the previous chart of DAN before, the share price was about to hike to €23.50. We have not reached that price yet, however it seems the share price is in a hurry to see that price. No LONG trading strategies are advised at this point as ratio risk-reward is negative. Besides, Danieli is value at €32.5 from a value point of view.
GMMA crossover between 6.25-6.50 with strong momentum, with MACD in long position BUT RSI overbought way over 70 so opening a position would have been very risky... despite overbought price reached 6.79 before retracing so there was space for a gain but I thought there was too much risk for me buying with RSI at 74.
A strategy could be waiting for a retracement...