Saipem (SPMm.MI) is an Italian multinational company specializing in engineering, drilling, and construction in the energy sector. With a market capitalization of €2.93 billion as of August 21, 2023, it offers a range of services to the oil and gas industry, including offshore and onshore projects, pipelines, and more.
Founded in 1957 as a subsidiary of Eni, Saipem gained independence in the 1960s and rapidly expanded its capabilities. It went public in 1984 with an initial public offering on the Milan Stock Exchange. Over the years, the company has established itself as a leader in providing complex and technologically advanced solutions to the energy sector worldwide.
Saipem's stock had its highest stock price of €262.7619 in October 2018 and the lowest stock price of €0.5700 in September 2022, this indicates the volatility of the stock.
If you are a trader interested in trading the stock, you need to have an understanding of different trading strategies, depending on your strategy or goals. Some of the popular trading strategies include day trading, swing trading, copy trading, scalping trading and position trading. For instance, day trading normally involves buying and selling stocks within a single trading day. Swing trading involves holding stocks for a few days up to a few weeks.
In addition to these trading strategies, traders may also use various tools and indicators to analyze the stock, such as support and resistance trading, momentum trading, etc. Support and resistance trading for instance involves identifying the levels at which the stock price tends to fall or rise, and using this information to predict future movements.
As a trader, when making trading decisions, it is always essential to consider the competition. Saipem's competitors include:
- Subsea 7 SA (SUBC.NO) is a global company specializing in offshore oil and gas engineering, construction, and services. With operations worldwide, Subsea 7 offers a wide range of solutions, including subsea installation, inspection, repair, and maintenance. The company plays a crucial role in the energy industry's subsea projects, contributing to the development of underwater oil and gas infrastructure.
- ENI (ENIm.MI), officially known as Eni S.p.A., is an Italian multinational energy company. Founded in 1953, ENI is one of the world's largest publicly traded oil and gas companies. It operates across the entire energy supply chain, including exploration, production, refining, and distribution. It's actively involved in both hydrocarbon exploration and renewable energy projects.
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* The spreads provided are a reflection of the time-weighted average. Though Skilling attempts to provide competitive spreads during all trading hours, clients should note that these may vary and are susceptible to underlying market conditions. The above is provided for indicative purposes only. Clients are advised to check important news announcements on our Economic Calendar, which may result in the widening of spreads, amongst other instances.
The above spreads are applicable under normal trading conditions. Skilling has the right to amend the above spreads according to market conditions as per the 'Terms and Conditions'.
Why Trade [[data.name]]
Make the most of price fluctuations - no matter what direction the price swings and without capital restrictions that come with buying the underlying asset.