In our analysis of April 23, we highlighted:
.. ISP’s objective is to reach the resistance at €3.55.
Yesterday Intesa achieved this bullish objective, which corresponds to an important resistance level. With this increase, the price of Intesa has reached a price area that it has not reached since July 2015. Looking at the weekly graph, you can clearly see the up trend that has been characterizing Intesa since June of the past year.
Pay attention to the divergence on Intesa
Instead, moving on to daily chart, we can see that the price of Intesa in March had made a reversal up to the support in the €3.25 area. From this area it then rebounded decisively to reach a series of new annual highs.
Furthermore, in the lower part of the chart, you can also notice the divergence of the RSI indicator compared to the price. Since the beginning of April the indicator continues to incline even in the face of the rise in price. In the event of a correction, the first ISP support moves to the €3.40 area.
Illimity Bank Positive April
The month of April is showing itself a lot for Illimity Bank (ILTY) which records a growth of 8.25%. Currently, it is trading at €5.28 and in the last two sessions it is growing by 10%, however since the beginning of the year it is still negative by 3.50%.
