Medium term view - SNAM RETE GAS : The moving average is supporting prices.
The previous high has been passed, the bullish trend is confirmed. The next target is at €5.000. The invalidation level is below €3.800.Arguments :
- Prices have pulled back to the support level (previously a resistance). The rise is now resuming.
- The moving average is...
Snam is engaged in the construction and integrated management of natural gas infrastructure. It manages the gas systems, develops infrastructure and provides integrated services for the market. Co. is also engaged in natural gas transportation, storage, regasification and urban distribution. Co. manages a national transportation network, including eight storage facilities, one regasification plant and a local distribution network.
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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