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The Stock Exchange is cautiously up

The Athens Stock Exchange is wary of 960 points today, in an attempt to re-create a safety cushion from the psychological limit of 950 points, which it successfully defended in the previous days.

In particular, the General Index records gains of 0.38% at 955.33 points, while the turnover is at 4.4 million euros and the volume at 1.7 million units. The FTSE 25 also recorded an increase of 0.38%, to 2,305.01 points, while the banking index gained 0.02% to 651.03 points.

The Stock Exchange is cautiously up

The market has managed to stay above 950 units despite the international turmoil, something we were not used to in the previous months, when it was trying to break the long accumulation. And the longer it stays above this psychological threshold, the more it creates a new retaining wall that can act as a bulwark against a possible negative international scenario, the chances of which are high due to the intense inflationary pressures.

Another message that the ATHEX sends from the “turn” of the new year is that its resilience to international turmoil has improved. Until recently, the image of the overreaction in declining periods of the international markets had received anecdotal remarks, in contrast to the sequence of the upward ones from Athens Avenue. Since the beginning of the year, however, the picture has been reversed, with the ATHEX showing that it can be freed from the turmoil of foreigners and keep the levels even if it needs to raise its turnover a bit. After all, the average of 100-120 million per day in the upward meetings was important for the Greek data, but negligible and manageable for foreigners.

The certified analyst Petros Steriotis agrees with the above, emphasizing that in the current situation, the convincing break-up and securing of 950 points presupposes “fresh money” on the one hand, and a helping hand from the suffocating Foreign Stock Exchanges and bonds on the other. The risk of the multiple top of the General Index is addressed with the prudent use of sell stop orders, but on the other hand does not cause the investor to refuse to accept the new chart highs, when and when they are recorded.

On the board

On the board now, Coca Cola, Terna Energy and Lambda record profits in excess of 1%, while Viohalco, IPTO, OTE, ELHA, Motor Oil, GEK Terna and Jumbo are moving slightly higher.

On the other hand, EYDAP loses 1.85%, with Eurobank, Quest, Ethniki and PPC following with small losses. Unchanged are Sarantis, PPA, Hellenic Petroleum, Ellactor, Aegean, Alpha Bank, Titan and Piraeus.

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