The Stock Exchange gives battles against profit taking

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The Athens Stock Exchange is testing its strengths above 930 points today, which has reasonably mobilized some moves to secure profits at levels it has not seen in the last two years.

In particular, the General Index records gains of 0.13% at 935.85 points, while the turnover is at 8.4 million euros and the volume at 2.5 million units. The FTSE 25 also increased 0.12% to 2,263.95 points, while the banking index increased 0.05% to 638.93 points.

The Stock Exchange gives battles against profit taking

The “ceiling” of 2021, the 930 units, broke after a strong two days in the market, but the bet now is to stay above the level at least until the end of the week. This means that the ATHEX must manage any pressures from the profit-making moves that will reasonably manifest themselves in such a way as not to jeopardize these critical levels, which have remarkably put a stop to the long several times in the past year.

At the same time, the focus will clearly remain on the banking sector, which has not only outperformed this mini-rally but has effectively led it, with the sector now facing a critical 640-point level. And as Apostolos Manthos of Aenaon Markets reminds us today, the completion of an ascending escape over the zone of 640 to 650 units will open the landscape for the big uphill road that leads to the passage of 800 units since the said territory of 150 units does not have strong resistance due to the erratic sinking caused by hearing of the impending health crisis in February 2020.

However, what is expected from the majority of analysts today is for the ATHEX to expend some forces in the coming days to manage the securing moves, also awaiting Fitch’s verdict on Friday night. This, although of course it will not make much difference to the lost (from the crisis) investment grade of Greece, will obviously give enough data for the performance of the economy and the banks, which will be included in the investment strategies, especially the twelve months.

On the board

On the board now, EYDAP records gains of 1.03%, with Jumbo, ELHA, OTE, Titan, Hellenic Petroleum, Quest, Terna Energy, National, PPC, OPAP, Piraeus and Motor Oil following with a small increase.

On the other hand, Lambda loses 1.09%, with Eurobank, Viohalko, GEK Terna, Ellactor, Coca Cola, Mytilineo, PPA and Alpha Bank correcting in a controlled manner. IPTO, Aegean and Sarantis are unchanged.


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