Italy has been beaten up in the financial media a bit because of chronic problems with some of their banks. I would suggest you check out ENI S.p.A. ADR (E) . I find the charts interesting.
In this one-year daily chart of E, above, we can see lots of price gaps, but the gaps in November and December are the most telling, in my opinion. The volume of trading has been heavier in E since early October and the volume surge in November really stands out because the On-Balance-Volume (OBV) line turns up. Prices are above the rising 50-day and 200-day moving averages for the first time this year. Momentum is not diverging from the price action and there is only nominal resistance in the $32-$33 area.
This weekly chart of E, above, shows that prices have shifted from a downtrend in 2014 and 2015 to a sideways trend. Prices are above the flat 40-week moving average line. The weekly OBV line has been rising the past two years, suggesting that accumulation has been ongoing for an extended period. The weekly Moving Average Convergence Divergence (MACD) oscillator just crossed for a cover-shorts buy signal. The MACD oscillator is not far below the zero line for an outright go-long signal.
In this Point and Figure chart of E, above, we can see a rough uptrend from 2010 to 2014 and then a decline. A weekly trade at $33 will be a breakout on this chart and it will allow for a $42 price target.