The Stock Exchange expands its gains

The Athens stock exchange is currently trying to test the 200-day exponential moving average, as on the sidelines of the critical announcements on inflation in the US, which is the main policy catalyst of the Federal Reserve, it manages to widen its gains.

In particular, the General Index registers gains of 0.76% at 866.02 units, while the turnover is at 8 million euros and the volume at 3.2 million pieces. An increase of 0.65% was recorded by the FTSE 25, at 2,084.00 points, while the banking index gained 0.47% at 551.35 points.

Although the ASE is on the fringes of the exponential KMO, it cannot disengage from the main catalyst of today’s (and not only) session worldwide, which is none other than the long-awaited US inflation data.

After all, they are what largely determine the policymaking of the Federal Reserve, which is struggling to bring it under control with constant interest rate hikes. And it is these increases that are causing a large shift of funds worldwide, to assets that both offer protection and give stable returns, while US stock indexes struggle in the middle of a bear market.

Thus, the ASE, even in the absence of any internal development that determines investors’ decisions, “draws up” in the waiting room of the international markets. And of course, given that we’re in the second decade of August, when rates are falling to marginal levels, the focus can’t be anywhere other than US data.

Technically now, as long as the market remains below the 200-day exponential moving average at 866.55, its trend remains bearish. Therefore, to test the next level of 870 units, it will have to break through the exponential KMO 200. Support is at 840 and 815 units, the test of which has more chances at present, although the general indicator has created a safety cushion.

Dashboard

On the board now, Viohalco gains 3.18%, with PPC, EYDAP and ELHA following with an increase of more than 2%. Above +1% are Coca Cola, Titan, Hellenic Petroleum, OTE and Alpha Bank, while Ethniki, Lambda, GEK Terna, Piraeus, Mytileneos, Quest, Jumbo and ADMIE are moving slightly upwards.

On the other hand, Sarantis and Ellactor recorded losses of 1.41% and 1.04% respectively, while Eurobank, Aegean and OPAP moved slightly lower. Terna Energy, PPA and Motor Oil remain unchanged.