As Juventus fans suffered a restless night after their team’s crushing defeat against Atletico Madrid, investors in the Juventus stock woke up to a much more horrible morning. After closing yesterday at 1.449, the stock opened this morning at 1.261 – In other words, the stock opened with a GAP DOWN of around 13%.
During morning trading, many investors bought this stock and in actual fact the price has recouped back some of the losses and now stands at 1.310. As we can see on the chart, it is now sitting exactly on the 50 day moving average. It is still not clear however if this is to be considered as a resistance or support.
Personally, as things stand, and with the return match still to be played in three weeks’ time that will surely cause some more volatility, I am waiting for the price to get closer to the support line at 1.200 and start buying from that level.