Endless diving in the Stock Exchange

The Athens Stock Exchange is currently in a strong downward spiral, which is now losing the levels of 820 points with concise procedures, not being able to raise embankments in the accelerating risk off due to geopolitical risk.

In particular, the General Index records losses of 4.3% at 817.83 points, while the turnover is at 32.6 million euros and the volume at 13.7 million units. The FTSE 25 also recorded a fall of 3.14%, to 1,990.84 points, while the banking index lost 6.09% to 548.44 points.

The general drop in the ATHEX is now without brakes, as it loses more than 100 points since the outbreak of war in Ukraine. And even worse is that his technical image is extremely negative so that he can be “caught” from somewhere and stop the strong sell off.

After all, it is now at the lowest levels of the multi-month accumulation of 2021, where the supports had kept in an environment of very low trading activity. Something that does not exist at the moment, increasing the chances that the general index will soon go to 800 points.

According to Ap. Manthos of Aenaon Markets, the widespread impossibility of upward folding has now brought the sellers’ camp to the fore again, pushing the index on the very strong support area of ​​830 to 819 points. Level from where the upward momentum of the market started last March.

However, most analysts now believe that external factors have diminished any market support. Therefore, only they can change the image and cause a positive re-rating by correcting the excesses of the last days. If the buying moods strengthen, the General Index will be able to return even within the territory of 905 to 897 points, thus significantly changing the short-term negative image of the market.

On the board

On the board now, Eurobank is losing 6.10%, with Alpha Bank, PPC and Coca Cola following with losses of more than 5%. Ethniki, Piraeus and Viohalko are over -4% and Aegean and ELHA are over 3%.

Losses in Hellenic Petroleum, Ellactor, Mytilineos, Lambda, GEK Terna and Titan exceed 2%, those in OPAP, Motor Oil, OTE and Jumbo by 1%, while Quest, IPTO, Terna ENERGY and PPA move slightly down . Sarantis, on the other hand, has reduced to + 1.30%.