Today we will talk about the best stocks to buy today January 4, 2024; of course we are talking about Italian stocks.
The 2024 outlook tells us that Italy is a growing country, even if it is a very weak economic growth.
The stocks we have chosen are Blue Chips on the Milan Stock Exchange which have seen great growth in 2023
Where to invest today January 4: Technical analysis of the best stocks of the moment
Monte dei Paschi di Siena stocks technical analysis
The section discusses the notable performance of the Rocca Salimbeni institute, which recorded a positive session with a significant increase of 6.14%.
The day starts well, with the stock starting from 3.063 euros, below the previous day’s high, but rising steadily throughout the session, closing at 3.233, close to the day’s high.
The weekly analysis reveals a more marked upward trend of the Monte Paschi stock compared to the reference index, indicating greater market interest in the stock. In terms of the short-term technical state, the positive performance is expected to continue, with the first resistance level identified at 3,295 and a potential correction risk up to 3,108.
Investors expect a further increase in the uptrend towards the resistance area of 3,482.
However, investing is associated with a considerably high risk of gain/loss, with a daily volatility of 3.261.
Despite this, risk-prone investors show a strong interest in the Sienese institute, as evidenced by the remarkably high daily volumes which stand at 30,394,512, exceeding the moving average of 28,541,871.
This suggests a higher level of market activity and investor attention towards Banca Monte dei Paschi.
Unicredit Stocks Technical Analysis
- Unicredit grew by +93.86% in 2023
The credit institution concludes trading with a decline of 0.72%, marking a fractional decline. The stock market’s initial movements were characterized by neutrality, but gradually weakened throughout the trading session.
On a weekly basis, the stock’s performance is more robust than the FTSE MIB index, capturing the attention of investors more decisively than the benchmark.
The economic analysis of the Piazza Gae Aulenti bank indicates a strengthening of the bullish phase, with immediate resistance at 25.12 and initial support at 24.48. Technical expectations suggest further bullish momentum towards new highs expected around 25.76.
The risk analysis describes the current risk level of the stock as manageable, with a daily volatility of 2.177. Although daily volumes remain low, the stock’s balanced movement reflects a lack of interest from institutional investors.
This condition allows for greater control over the trend which, although orderly, does not present significant fluctuations or strong shocks.
Leonardo Stocks Technical Analysis
- Leonardo grew by +87.82% in 2023
The Italian aerospace holding company recorded limited progress, closing with a gain of 1.35%. Initial trading showed neutrality, but the stock rose steadily throughout the session, closing strongly at 15.45, near its session high.
A weekly analysis of the stock reveals a more pronounced bullish trend line for Leonardo compared to the benchmark index, indicating greater market appeal.
Currently, the near-term outlook for the Italian defense contractor suggests significant upward movement with a target set at 15.64. In the event of a temporary correction, the immediate target is set at 15.07, with the expectation of a further rise towards the high at 16.21.
With regards to risk analysis, Leonardo’s performance is considered to be under control. Daily trading volumes of 2,052,488 are lower than the one-month moving average volume of 3,910,114, and the price deviation is relatively narrow.
Daily volatility is 1,666, suggesting a stable risk level for the stock.