PPC gives … energy to the Stock Exchange

With PPC leading the rise, but also several index-weighted stocks contributing positively, the Athens Stock Exchange is testing its strength in the near resistance of 910 points.

In particular, the General Index records gains of 0.71% at 912.73 points, while the turnover is at 26 million euros and the volume at 10.5 million units. The FTSE 25 also increased 0.91% to 2,217.38 points, while the banking index gained 0.90% to 650.12 points.

Although Europe is in the Holy Week of Catholic Easter and many portfolios have slowed down, trading activity on the ATHEX seems to be satisfactory at the levels it moved to last week. Of course, as they approach the Friday and Monday holidays, the transactions will decline, so what should be given as a message until then is that the ATHEX has the forces to maintain the levels of 900 points.

Of course technically, in order for the general index to move higher, it needs to secure 910 points, a fact that if it happens we can be led to the zone of 935 points. On the other hand, the support is located at 880 units, the downward break of which will enhance the downward movement. The FTSE 25 is also trying to break the 2,210 points, while the banking is away from the resistance of 667 points.

Beyond the above, however, the oscillators are in the middle of the range, indicating a significant upside margin for the continuation, which is located at 940 points, where the downward gap in the starting price of the fall, which brought the general index to the low of 788 points, is located. The question now is whether this week buyers will remain more cautious, due to Easter, or take advantage of the backlog of several titles, such as Coca Cola, to exhaust the upside margins.

On the board

On the board now, PPC is jumping 6.35%, with PPA being at + 3.41% and GEK Terna and Jumbo following with more than 2% profits. Eurobank, Motor Oil, Biochalko and ELHA are moving above + 1%, while Lambda, Ethniki, IPTO, Aegean, Terna Energy, Alpha Bank and Coca Cola are moving slightly higher.

On the other hand, Quest loses 2.30%, with Sarantis being at -1.51%. Mytilineos, OTE, Piraeus, Titan, Ellactor and OPAP are moving slightly downwards. EYDAP is unchanged.