Unicredit crushed by sales. Unicredit slipped Tuesday ‘up to 2,194 euro after ending the previous session at 2,294 euro. During the session Equita Sim has reduced the price target on the stock from 4.1 to 3.1 euro and confirmed the “hold” recommendation. ICBPI has however confirmed the recommendation “buy” and target price to 5.6 euro.
A bank note informs that the Board has established a new organizational structure with Gianni Franco Papa that will be ‘general manager UniCredit group, effective September 1. Pope will drive ‘all the activities’ business with broad powers and strengthened. The activities ‘operating will be led by Ranieri De Marchis is now’ at the head of the audit and internal control, and Francesco Giordano, now CFO of HVB, which will become co-chief operating officer. Mirko Bianchi become ‘CFO of the entire UniCredit Group (today’ CFO of BankAustria) while Coo Paolo Fiorentino and CFO Bernardo Mingrone will leave the group. Italians asset, under the supervision of the Pope, will be entrusted to Andrea Casini, now head of Bulgaria, and John Ronca, currently at the helm of the New York branch.
The decline of the last hours has brought the title within the bearish channel that prices have drawn up by the end of April and in the previous three sessions had been marginally forced (the top side of the channel at this stage coincides with the bearish trend line drawn from the peak of November 2015). Additional negative confirmations would be below the moving average to 20 days, to 2.04 Euros, with the risk that in case of the minimum test of July to 1.70 but also the continuation of the downward until intercepting the base of the channel mentioned in 1 , about 45. Just over 2,514, the high side of the bearish gap of 24 June, possible reactions worthy of note with lens at least on the moving average 100 days a passerby around 2.86 euro (the average and ‘downward, then on top of prices, from November 12, 2015).
(AM)
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