Short term view - SAIPEM : The major support has been breached.
The trend remains neutral. Prices will have to break below the peak at €3.296 for the trend to be negative again with an invalidation level above €3.629.Arguments :
- The major support has been breached.
- Prices are breaking below the moving average.
- The gap was closed, the trend is weakened.
Saipem is a global contractor with local presence in Africa, Central Asia, America, the Middle East and South East Asia. Co. provides engineering, procurement, construction and installation services; and engineering, procurement and construction services to the oil and gas industry, both onshore and offshore, with a focus on projects, including activities in remote areas, in deep waters and on projects that involve difficult gas or crude supplies.
DayByDay is an independent research company providing global macro and single stock analysis, recommendation and allocation based purely on behavioural finance methods. Those include long term cycle analysis, sentiment analysis, and technical trigger. DayByDay serves all clients in need of practical and precise publications to make effective market decisions, on any time horizon, from a few hours to a few years.
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