(Again) the Stock Exchange is besieging the 870 points

The Athens Stock Exchange is making a new attempt to recover the 870 points today, which is moving with significant profits, but a moderate turnover, having its eyes on the international markets as well.

In particular, the General Index records gains of 1.16% at 870.03 points, while the turnover is at 6.4 million euros and the volume at 2.7 million units. The FTSE 25 also rose 1.25% to 2,093.89 points, while the banking index gained 1.43% to 571.38 points.

Second consecutive meeting that the ATHEX is trying to move away from the levels of 850 points and break the resistance of 870 points, but the task does not seem to be very easy, considering the previous failed attempts to break the resistance. But according to Ilias Zacharakis of Fast Finance, the market is trying to stabilize, while we are approaching the completion of the rebalancing of MSCI, which will essentially clear the picture.

Technically, the level of 843 units was rescued once again, which if it had been split would have paved the way for 820 units, with a move to 900 units being possible. Clearly, however, the band of 868-875 points, which is the close resistance, must be broken. In the FTSE 25, the 2,025 units withstood once again, with 2,106 units being the main resistance. For the banking, 577 points are the resistance and 530 are the strong support.

According to Beta Securities, from mid-April, however, there is a repetition of a downward zigzag pattern which has called into question all the upward reactions that have preceded. If we assume that the Market has been accumulating since the beginning of May, then the main issue is not to pay prices below the previous week’s lows. Then we will be able to talk about improving the technical conditions and a reaction with more remarkable upward specifications.

Dashboard

On the board now, Terna Energy is gaining 3.26%, with OTE and Ethniki gaining 2.30% and 2.12% respectively. More than 1% is the increase in ELHA, OPAP, Alpha Bank, GEK Terna, Viohalko, Quest, Piraeus, Aegean, IPTO, PPC and EYDAP.

Mytilineos, Eurobank, Hellenic Petroleum, PPA, Motor Oil, Coca Cola, Ellactor, Titan and Jumbo are moving slightly upwards, while Sarantis and Lambda are moving slightly downwards.