Draw … on the board of the Stock Exchange

The Athens Stock Exchange’s attempt to move above the levels of 870 points fell into another vacuum, which stopped for the fifth time in the last ten days, after a meeting of shared signs.

In particular, the General Index closed with a marginal drop of 0.03% to 859.79 points, while today it moved between 871.95 points (+ 1.38%) and 857.62 points (-0.28%). The turnover amounted to 82.64 million euros and the volume to 31.45 thousand units, while 6.37 million units were traded through pre-agreed transactions.

The high capitalization index closed with a marginal drop of 0.08%, at 2,066.34 points, while at -0.25% Mid Cap completed the transactions at 1,399.46 points. The banking index closed with losses of -0.44% at 560.83 points.

Although in the first hour of the session the General Index was close to 872 points, after 12:00 the climate changed, the pressures on a portion of shares increased and the General Index was fighting for its sign. In fact, the scoreboard was almost shared, with OTE and Coca Cola leading the tug-of-war.

So once again the pattern was repeated from mid-April, which has called into question all the upward reactions that have preceded. This time the level of 843 units was technically saved, which if it had been broken would have paved the way to 820 units. Clearly, however, the ATHEX will have to break the band of 868-875 points, which is the close resistance, something that seems extremely difficult.

The main person in charge of this picture is the banking sector, whose weakness is obvious for another meeting. And according to Apostolos Manthos, the industry seems to have entered difficult and thorny paths as it has come down to a price level that statistically causes strong downward movements. The Banking Index, therefore, once again conquering the scepter of the weakest link in the market.

Now the only point that separates him from the cliff is the lows of last March at 505 points. Below that the situation can escape for good, causing extensive liquidations that can open the diagram “hatch” to the support area of ​​470 to 450 units. Of course, in order for this to happen, the level of 505 units must be delivered to the fire, something that so far seems out of the plan.

On the board

On the board now, Terna Energy recorded gains of 5.04%, with GEK Terna following with its own + 2.02%. Profits in Eurobank and IPTO were over 1%, while in Mytilineo, EYDAP, Titan, OTE, Viohalko, Motor Oil, Ethniki, Quest and ELHA, they were lower than 1%.

On the other hand, Piraeus lost 4.08%, with the PPA falling 2.35%. Over 1% was the drop in Jumbo, Alpha Bank, Coca Cola and Aegean, with OPAP, PPC, Saranti, Lambda and Ellactor closing slightly lower. Hellenic Petroleum closed unchanged.