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It40

ITALY PREPARING FOR NEXT LEG TO THE BULL MARKETThe Italy 40 index, or the FTSE MIB, is considered the benchmark for the national Italian stock exchange, the Borsa Italiana. The index consists of the 40 most capitalized and liquid stocks that are listed on the Borsa Italiana. The IT40 now seems to have begun rising in what is expected to be the wave iii of 3 for the index. This particular wave is expected to take the index towards the 40K mark from the current 29k mark(a hefty 40% move). The index of the European country is one more global index to be added to list of several others on the move in a bull market that can go on for several more years to come(of course with regular corrections and pauses on the way). Note*- This chart is for educational purpose only
CAPITALCOM:IT40Long
by neeraj_2_sharma
5
Italy - 3rd Largest Economy in the EUItaly 40 Index - CAPITALCOM:IT40 Made up of 40 of the largest companies in the Italian equity market the Borsa Italiana , the IT40 gives us an idea of how the 3rd largest economy in Europe is performing. The Chart - 22 month cycles - 22 months increasing and then decreasing - Based on the pattern we are reaching the end of a 22 month period where price is typically up to 30% lower from current level. - A bearish engulfing monthly candle appears to be forming here. If we close this month with a bearish engulfing candle, history would suggest significant down side will follow. - We have not lost the 10 month moving average yet which typically offers confirmation of further decline. Past patterns are no guarantee of a continuation of future patterns however we can watch out for the continuation. Confirmation signals of significant downside which would be; - Bearish Engulfing Monthly Candle (end of Aug) - Losing the 10 month moving average - In the event of same decline time window once in motion would be Aug - Nov 2023 (based on pattern) Lets see what happens. PUKA
CAPITALCOM:IT40Short
by PukaCharts
Italy FTSE MIB index analysis: Draghi out, worst yet to come? Ten years after rescuing the euro with the iconic "Whatever it takes", Mario Draghi resigns as Italian Prime Minister, as the political parties that formed his majority no longer backed him. The uncertainty surrounding the upcoming general election reigns supreme, and the political crisis in Italy risks putting further downward pressure on the Italian FTSE MIB ( IT40 ) index due to widening yield spread between Italian (BTP) and German Bunds. The BTP-Bund spread, measured as yield difference between IT10Y and DE10Y is now at 2.34 percent (or 234 basis points). Historically, the FTSE MIB index has had a strong and inverse link with the yield spread between Italy and Germany. The FTSE MIB index saw increased volatility as a result of BTP-Bund spread spikes, since they reflect a gauge of credit conditions and country risk in Italy. Draghi's departure along with the announcement of early elections with populist parties on the rise, could now push the BTP-Bund spread above 300 basis points, a level that has previously raised warning bells and resulted in significant sell-off in the FTSE MIB index. Technically, the major trend remains bearish, and the 14-day RSI has been trading below the 50 level for the previous month and a half. However, the momentum indicator is not showing oversold conditions. If the BTP-Bund spread increases beyond 300 basis points, a level that has previously raised concerns in Italy, the FTSE MIB might suffer a more serious selloff in the coming weeks, possibly breaking below the 20.000 mark.
CAPITALCOM:IT40
by Capitalcom