Pirelli shares, support and resistance on 29 October 2019

<! – ->Pirelli in a swing, before the dissemination of the results for the first nine months of 2019. The share registered a minimum decrease of 0.27% to 5.888 euros.

In the meantime, Matteo Oddi of Exante highlighted that at the meeting on October 28th, the Pirelli share price reached a new five-month high, reaching 5.94 euros. "In this perspective one firm closing above the resistance at 5.85 euros it would be an encouragement for further increases. Moreover, the quarterly data will now play a fundamental role in the mood of investors and in the continuation of the current trend, "the expert pointed out. According to Matteo Oddi the current technical dynamic is favorable to new purchases, with the support at 5.55 euros called to act as a buy-back area in the event of a short-term correction. "Only a daily closing below the € 5.3 share would decree a stop against purchases," the expert suggested.

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