The graphic framework of Tiscali it is marked on the downside in the medium and short term, although lately the appeal of the stock on the part of investors seems to have increased. In fact, from the low storied of 52 cents reached on 27 September, the telecommunications company has scored a bounce of more than 100% reaching a level of almost 1 euro with yesterday’s intraday spike (the performance from the minimum to today is + 54%). To support the recent hikes the acquisition by Tiscali of 54.7% of 3PItalia, a company specializing in the design and implementation of public partnerships. The acquisition of the majority shares of the company is one of the extraordinary operations that Tiscali is carrying out with the aim of building the pillars of the new business plan 2022-2025 (“La Nuova Tiscali”) which will be presented to the market on Tuesday 18 October at the Cagliari headquarters.
Returning to the chart, to have a confirmation of the strength of the bullish movement we will have to wait for the overcoming the bearish trend line (built on the highs of April and June of this year) and the psychological threshold of 1 euro, where the 200 period moving average. The return above this level would improve market sentiment on the stock with a first target of 1.24 euros and then 1.4 euros. L’RSI oscillator close to overbought indicates that buyer pressures are very strong in this phase of the market and even on the volume side only yesterday over 11 million shares changed hands, well above the average. On the contrary, however, the eventual rupture of the support at 83 cents it could generate weakness on Tiscali and trigger relapses towards 70 and 53 cents, effectively canceling all the increase achieved in the last month.
Last price: 0,835 euro
Supports: 0,83; 0,70; 0,53 euro
Resistors: 1,02; 1,24; 1,39 euro
Despite the recent rebound, if we look at the price chart over a broader horizon (ten years on a weekly basis) we see how the long-term trend of Tiscali is set strongly on the downside.
