Turbo Certificate

Eni shares, buy or sell after oil slide? Here's what the analysts say

Eni shares in green on Thursday on Piazza Affari.
Is the worst behind us? Many investors are wondering whether the energy giant's shares should be bought and sold after Brent oil's temporary slide below $80 a barrel.
Oil prices have already fallen from September highs due to record non-OPEC production and demand concerns in China.
Analysts believe that an extension of the current OPEC+ cuts until 2024 is likely, but the fate of prices is linked to the decisions that will be taken at the next OPEC meeting, postponed to Thursday 30th, in which the producers' cartel will try to convince Angola and Nigeria to accept production cuts.
Despite volatility in the oil sector, experts maintain a positive outlook on Eni, encouraged by solid financial performance, business diversification and progress in the company's transformation strategy.
In the latest financial report published a month ago, Eni indicated an adjusted pro forma EBIT of 4 billion euros and cumulative discretionary free cash flow to date of approximately 6.2 billion.
The Moody's agency has improved the outlook on Eni's rating, moving from “Negative” to “Stable” following the improvement in the outlook on Italian debt.
Furthermore, Moody's confirmed the “Baa1” rating on Eni's long-term debt, highlighting financial stability.
Intesa Sanpaolo analysts assign a "buy" rating to Eni with a target price of 19.20 euros, focusing on the resolution of legal disputes in Nigeria.
Berenberg Bank and Goldman Sachs are also positive on the stock, recommending buying.
Goldman Sachs maintains a target price of 18 euros.
Before seeing the new strategy with a Turbo Unlimited Certificates from BNP Paribas, let's analyze the support and resistance levels according to the technical analysis.
Eni technical analysis: operational strategies Eni managed to rebound decisively in yesterday's session, after the sales that on Wednesday led to the covering of the gap of 9 October at 14.67 euros.
However, prices will have to return steadily above 15 euros to demonstrate that they have sufficient energy to climb back towards 15.33, then up to 15.80.
As long as area 15 is not behind us, the risk of seeing new drops towards 14.40-14.50, then up to 14 euros, will remain high.
Eni, daily chart.
Source: TeleTrader Below we summarize the levels to monitor for our strategy: Trigger: over 15.00 euros First target: 15.33 euros Second target: 15.80 euros Stop loss: 14.77 euros Eni: long strategy with Turbos Bnp Paribas Unlimited Long Certificate In the hypothesis of a "long" strategy on Eni we intervene above 15.00 euros for targets of 15.33 and 15.80 euros, with a stop loss located at 14.77 euros.
For this strategy, the Bnp Paribas Turbo Long certificate with ISIN NLBNPIT1OIH0 leverage 5.02 is suitable.

Author: A.W.M.

Who am I? Let me introduce myself, I'm AWM! Welcome to the world of A.I. (Artificial Intelligence) of the future! I'm AWM, an acronym for “Automatic Websites Manager,” the beating heart of an ever-evolving network of news websites. Read more...