The Stock Exchange is ‘afraid’ of 900 points

Upwards, but without attempting at heights that may lurk risk, the Athens Stock Exchange is currently moving, which although tried in the morning to regain 900 points, the task seems difficult at this time.

In particular, the General Index records gains of 0.37% at 894.69 points, while the turnover is at 37 million euros and the volume at 12 million units. The FTSE 25 also recorded an increase of 0.66%, to 2,168.63 points, while the banking index gained 1.76% to 620.55 points.

The market comes after a good week, which not only interrupted the series of the four difficult falling weeks that preceded, but also to zero the losses of 2022. And according to Ilias Zacharakis of Fast Finance, Tuesday is a very important meeting of a and in addition to closing the month, the rebalancing of MSCI is completed, which is bothering several titles.

According to Mr. Zacharakis, “our heavy” industry seems to be close to the 2019 record since bookings and arrivals show that they are breaking significant records in the current months. On the other hand, the constant threats from Turkey do not seem to affect the bookings, however, it is an unbalanced factor for how the period will go in case something happens. Energy prices continue to be a concern, however, the fall of the dollar may be the beginning of a significant correction and rationalization of prices, at least in the short term.

Technically now last week gave us daily buy signals on both indices and most stocks. The 900-unit zone is important to re-establish if we want to see a move to 940 units again in the first phase. 873 units are our close support. In the FTSE 25, 2180-2190 points is the near target and a resistance that will require significant funds. For the banking, 640 units is the close target.

Dashboard

On the board now, Ethniki wins 3.33%, with Piraeus, Eurobank, Alpha bank and GEK Terna following with gains of more than 1%. Coca Cola, Mytilineos, Viochalko, Sarantis, Motor Oil, OPAP, Jumbo, Hellenic Petroleum, ELHA, OTE and Terna Energy are moving slightly upwards.

On the other hand, IPTO loses 2.43%, with PPC and PPA at -1.46% and -1.34% respectively. Aegean, EYDAP, Titan and Lambda are moving slightly down. Ellactor and Quest are unchanged.