STM rises after the presentation of the quarterly report. The stock, which is part of the semiconductor sector (Wikipedia – STMicroelectronics), occupies 34th place for trend / momentum DSS score on forty components of FTSE MIB 40 basket and in 12th place on 18 stocks components Stoxx 600 Technology Sector.

Therefore, it is not among the strongest Italian blue chips, nor among the strongest stocks in the European reference sector. This is also because STM has been in this ongoing corrective phase for just under six months since the last top was recorded on November 7th, 2017 at € 21,590.

It is noted that in relative terms, STM is performing below the FTSE MIB 40, Stoxx 600 and MSCI ACWI IMI NET TR Local indices. So for the ARC method, relative and comparative can only satisfy the first condition while for the other two is not in an ideal situation for the purchase read more InchCapital Platform -STMICROELECTRONIC – isin code NL0000226223 – EUR

Today’s bullish reaction follows the second test of the 200-day moving average, which offers good support at 17,700, as well as the 55-week moving average at 16,800 and has never been broken down since the beginning of last uptrend, which started in July 2016.

 

STMicroelectronics – daily closing on April 24th 2018: 17.65.

InchCapital Platform – STM Daily chart – Simple moving averages at 55 and 200 days – Data Source Fida

 

STMicroelectronics – weekly chart

The image highlights the bullish trend of the STM stock represented by the weekly candlestick chart of the action with its simple 55-week moving average that has always supported the stock since the beginning of the trend.

InchCapital Platform – STM Weekly chart – simple moving average at 55 weeks – Data Source Fida

 

Consequently, those who want to buy STM already know that every bullish projection will have to be processed and postponed over time with trading below 16.985. For the medium term, the strategic level is 16,800 lower weekly closing. These are the conditions to be followed to continue in the bullish phase that has already an ideal and final target in the 24,000 / 24,500 area.

The quantitative projections calculated based on the daily time series are not exciting. Compared to the closing on Friday 20 April, recorded at 17,575, a maximum increase of 20 sessions is expected, equal to 8.13% and therefore until to 19.00. We will see if the projections will be confirmed or will change according to the trend of the current week.

 

STMicroelectronics – pattern prediction for the next 20 trading days – April 20th, 2018.

The picture shows five forecasts made according to quantitative methods for the prospective trend at twenty trading days from the close of Friday 20 April

InchCapital Platform – STM predictive analysis for the next 20 trading days on April 20th, 2018