Is Time to Buy a Bank MPS? Stargazing on the door?
Banks MPS shares ended trading week at EUR 1,078.
Since the beginning of the year it has recorded a minimum of 0.9855 and a maximum of 1.5875.
The sad story about this, which was one of the leading Italian banks, is well known, but today we want to focus its attention on a recent graphical form that could lead to a permanent exploitation of quotations.
After the exchange rate changes, the stock was re-admitted to weekly quotes from October 23, 2017 to 4.60, and from that level after the first recovery attempt to 5.10 began a further fall to a recent level of 0.9855,
Buy Banca MPS?
Based on analysts' consent, the Bank MPS is underestimated and the estimated fair value is between 1.60 and 2.70 per share. What to wait for next months?
Projections from 1 July to 30 December
minimum waiting area 0.65 / 0.79
the maximum expected area of 1.18 / 1.17
Reversion Point: Daily Closing Larger than 1,418.
Some patterns that have emerged in the last 2 weeks make us with a great deal of probability that this projection will most likely be misunderstood. Indeed, we believe that in the next 6 months it is unlikely that the recently low 0.9855 value will be adjusted and improved downwards.
How to behave then?
The moon may have been a multi-annual basis from which we could / should start again for the goals that today make for ambitious people.
From a graphical standpoint, if 0.8585 was the bottom, it is possible to reach a surface of 5.50 / 6.25 (if not more) for the next 3/5 years.
Is Time to Buy a Bank MPS? Graphical tracking levels
Buy at 1 July at a rate of 0.9850. We believe that the range between 1.23 and 1.50 will probably be touched in July. Overcoming and holding the 1.0920 area in the next few weeks would have caused price flying and re-establishing a 1/3 month bi-cycle trend.
As usual, we will continue step by step, but we believe that the dark times for the sienna bank were probably archived!