A smooth sell opportunity with Unicredit Spa. Bollinger Bands are widening out, giving a clear signal for a short. Geopolitical tension is now favoring bears. As a general warning, it would a very bad idea to open long trades on major stocks with an investing eye. Longs should be done only for speculation and possibly intraday. I expect a huge crack worlwide. It...
Unicredit seems to be a good opportunity to entry long in favor of trend.
A spike in volumes has pushed quotation higher. Such a volumes are a signal that it might be realistic to see a break-out above the horizontal resistance at 14.40, giving further fuel to the movement upwards.
Unicredit is the next European Bank to stage an impressive base breakout. EU Banks are at a turning point, outperforming, and have a lot of catch-up to do. Technicals look great. Unicredit appears to move into a vacuum and I see immediate upside into 2.75/.77
I'm a chart analyst, not a fundamental analyst, but here are a few thoughts what could drive EU Banks...
SIGNA TYPE: SHORT
ENTRY POINT: 1° tranche = 2,640-2,610 euro
2° ENTRY POINT: 2° tranche = 2,740-2,710 euro
STOP LOSS >= 2,916 euro
TAKE PROFIT 2,250-2,200 euro
The level of 2.80 Euro represents an important support in the medium term; if fall below that level, the first target is positioned in area 2.30 Euro, then 2.00 euro.
