2023-10-20 05:47:37
Sberbank shares on Thursday rose by 0.28%, to RUR 268.65 The trading volume amounted to 9 billion rubles.
Short term picture
• Yesterday, the Sber share price again tried to storm the 2023 highs, but, as the day before, already approaching 272, sellers increased pressure.
• Below, support was provided by the level of the previous day’s lows, into the area of which quotes dropped at the start of trading.
• The short-term picture has rather improved, but from current levels there are options for both a wave of decline in the direction of 263 and another hike to the highs. The RSI is holding in the middle of its fluctuating range.
• Perhaps a little more initiative is now on the side of buyers, and sellers need a breakdown of support at 266.1, which will shift the target to 262–263.
External background
The S&P 500 fell 0.85% yesterday. S&P 500 futures are down 0.1% this morning. Asia-Pacific indices show a negative direction. Brent oil rises in price by 0.9%, to $93.2 per barrel.
Resistance levels: 269 / 272 / 273.4
Support levels: 266.1 / 263–262 / 258–257
Long term picture
• From record levels, the price of securities lost 31%. Against the backdrop of the geopolitical situation, in February 2022, a long-term trend dating back to 2014 was broken.
• Support was found at the level of a gently rising trend that extends from the 2009 lows.
• As the price recovered, it reached the 200-day moving average and settled higher, indicating a growing medium-term trend.
• In February 2023, quotes reached new annual highs, and subsequently growth accelerated amid news of high dividends. The target price of BCS analysts on the horizon of the year is 350 rubles.
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