OTE still supports the Stock Exchange

The profits recorded by the Athens Stock Exchange are small at the moment, which, although it started trading with a significant upward movement, the sellers in selected securities stopped it.

In particular, the General Index records gains of 0.14% at 861.30 points, while the turnover is at 27.4 million euros and the volume at 11.3 million units. The FTSE 25 also recorded an increase of 0.20%, to 2,072.08 points, while the banking index gained 0.08% to 563.74 points.

Piraeus, Motor Oil and Coca Cola are holding back the rise with their losses and weight, but the climate in Athens Avenue only shows caution, as the positive sign is based on the new upward movement of OTE. Cautiousness once again in view of the 870 units, which proving great resistance, above which obviously the degree of risk increases.

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, Piraeus records losses of 3.18%, with Coca Cola, Motor Oil, PPA and Lambda following with a drop of more than 1%. Jumbo, Sarantis, Alpha Bank, OPAP, PPC and Aegean are moving slightly down.

On the other hand, Terna Energy gains 3.44% and OTE is at + 2.53%. The increase in IPTO and Ethniki is over 1%, while GEK Terna, Hellenic Petroleum, Quest, Eurobank, Titan, Viohalko, Mytilineos, EYDAP, ELHA and Ellaktor are moving slightly upwards.