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6/27/2020
IT40 Index (FTSE MIB - Italy) - Updated EW count
IT40 Index (FTSE MIB - Italy) has completed B wave within ABC zigzag down cycle, which is zigzag with smaller c subwave, which resulted in sharp drop. It is within C wave down, where 3rd subwave of C is in progress. Price must stay below 19548 level to validate the count. In weekly time frame, it is choppy after ABC correction ends at last low and new cycle WXY correcting now, where X wave down is under progress. IT40 is weaker index within European market as well as global indices.
FTITSC (FTSE Italia Small Cap - Italy) - Updated EW count
FTITSC (FTSE Italia Small Cap) is within C wave down from last top and 3rd wave down is in progress. The B wave was triangle, which resulted in sharp drop for C wave. In weekly time frame, it has completed downside WXY cycle, thereafter correcting within new wxy cycle upside, which remain choppy. It just started little under-performance than IT40 in last drop in 30 min time frame.
FTITMC (FTSE Italia Mid Cap - Italy) - Updated EW count
FTITMC (FTSE Italia Mid Cap) is within C wave down from last top and 3rd wave down is in progress. The B wave is zigzag abc, where c wave is within running correction, which resulted in sharp drop for C wave. In weekly time frame, it has completed downside ABC cycle downside, thereafter correcting within new wxy cycle upside, which remain choppy.
DiaSorin SpA ( DIAS - Italy) - Updated EW count
DiaSorin SpA ( DIAS - Italy) has completed impulse cycle within 2 hr time frame. In 30 min time frame, it is now correcting the impulse cycle in WXY correction, where wave W was zigzag abc and X wave was complex wxy correction. Y wave down has just started dropping down in ABC correction, where wave 3rd will start from Monday. It must hold the invalidation level to retain the count valid. In weekly time frame it is in 5th wave, which might over or may extend further. If price falls below 96.80, then it is clear that 5th wave is over, within weekly time frame.
Ferrari NV (RACE - Italy) - ABC wave pattern
Ferrari NV (RACE - Italy) is within ABC wave pattern in 30 min time frame. It is within 3rd wave down, after completing 1st and 2nd wave of C wave. The A wave was diagonal down after B wave dip correction. In weekly time frame, it has completed impulse wave up and now correcting down in WXY correction, where Y wave is under progress until price remains below 157.85 level.
Exor NV (EXOR - Italy) - Updated EW count
Exor NV (EXOR - Italy) has completed 2nd wave of (C) down in (A)(B)(C) wave zigzag down move in 4 hr time frame. In 30 min time frame, it is within 3rd subwave of 3rd wave down, which must remain below 50.54 level to validate the count. In 4 hr time frame, it dropped in impulse (A) wave and corrected in (B) wave as ABC zigzag move up. In weekly time frame, it has completed 5 wave up and now correcting down in ABC down sequence.
Recordati (RECI - Italy) - Updated EW count
Recordati (RECI - Italy) is within ending diagonal structure in 4 hr time frame and about to end soon, when finished c of 5th wave up. It is very hard to say that c of 5th wave is due for completion. Below 4th wave low 39 level, it will be in major reversal mode. So wait for confirmation to the pattern. In weekly time frame, It is in 5th of C wave up. Will see how it unfolds next. 
Banca Generali (BGN - Italy) - Updated EW count
Azimut Holding SpA (AZMT - Italy) - ABC wave pattern
Azimut Holding SpA (AZMT - Italy) is within ABC zigzag wave pattern in 30 min time frame from last swing high. The A wave was impulse drop followed by B wave as triangle, resulting in sharp decline for C wave. It is in 3rd subwave of C down until price retains below 15.44 level. The equal sized target for C wave will be 12.65 level. In weekly time frame its quite choppy and within corrective cycle, which no need to even count.
FinecoBank SpA, Banca Fineco (FBK - Italy) - Updated EW count
FinecoBank SpA (FBK - Italy) has completed 3rd wave (or C) up and now correcting down in 4th wave, which is complex WXY correction. In weekly time frame, it is in C wave up as primary count, but alternate count suggest the Y of WXY correction of (B) wave down. Next price movement is crucial for next big move either up or down. Keep eye on price chart to bet on the side. 
Poste Italiane SpA (PST - Italy) - Impulse wave down
Poste Italiane SpA (PST - Italy) is within 3rd wave down of C wave as in ABC zigzag move down in 4 hr time frame. In 30 min time frame, it is in 2nd subwave of 3rd wave down, but wait for confirmation to over it and keep eye on invalidation level of 8.66, because if price crosses above this then impulse count invalidates. In weekly time frame, It completed ABC wave and now correcting down in abc move. C wave was ending diagonal in weekly. 
Unicredit SpA (CRDI - Italy) - ABC wave pattern
Unicredit SpA (CRDI - Italy) is ABC zigzag down, where it is in 3rd wave of C down. It must remain below 8.18 level to stay count alive. In weekly time frame, it was in ending diagonal structure, which might be over, or get extended.
Digital Bros (DIB - Italy) - Updated EW count
Digital Bros (DIB - Italy) is within corrective structure in 15 min time frame after completing impulse wave over in 2 hr time frame as truncated 5th wave. In weekly time frame it in 5th wave impulse wave up having almost no divergence in indicator, which suggest for further extension. Will see how it unfolds next.
Brunello Cucinelli (BCU - Italy) - Updated EW count
Brunello Cucinelli (BCU - Italy) is within ABC zigzag down cycle of (Y) wave down in 4 hr time frame. It is about to complete 1st subwave down of C wave, thereafter 2nd subwave will rise up, which will given an opportunity to get in. In weekly time frame, it is within WXY correction after ABC ended at all time high.
ERG (ERG - Italy) - ABC wave pattern
ERG (ERG - Italy) is within 3rd subwave of 3rd wave. Here different counts are possible, so until price broke the level of 17.65 downside, it considered in uptrend. In weekly it may be within 5th wave up or corrective. The price movement will reveal what count will be unfolding. Keep eye on invalidation level, which decides the big move up or down.
De Longhi SpA (DLG - Italy) - Impulse wave pattern
De Longhi SpA (DLG - Italy) is within 4th subwave of 3rd (or C wave) up, which is in its Y wave down. Thereafter it will rise for 5th subwave o 3rd (or C) wave. In weekly time frame, it is in C wave up.
For Historical analyses of Italy index and stocks click here.
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