The Stock Exchange is fighting for the levels

The Athens Stock Exchange is currently trying to stabilize above 820 points, which after yesterday’s strong dive, is trying to find ways out that will remove it again from the critical support.

In particular, the General Index records gains of 0.11% at 824.06 points, while the turnover is at 2 million euros and the volume at 1 million units. The FTSE 25 also recorded an increase of 0.14%, to 1,980.71 points, while the banking index gained 0.58% to 519.05 points.

The market can not change its negative trend as long as it remains below 850 points, which it is unable to test upwards. And yet, points out the certified analyst Petros Steriotis, the General Index seems to look with interest at the chart support at 813 and 788 points (quarterly low) and while the resistances are at 845 (yesterday high) and 862 (downward “gap” in June) .

According to him, the lowest trading volumes in a downward trend on the ATHEX are not necessarily bad, in the sense that a generalized sell-off with dynamic sales orders and a lack of “willing” buyers would further precipitate valuations. It is worth noting here that in the last ten days of June the turnover is at the level of 60-70 million euros per day.

However, what still affects the market are the estimates for the economy and high energy prices, which in turn affect the profit margins and valuations of the energy-intensive ATHEX sectors. The equation is difficult – if not impossible – for the Central Banks, which are trying on the one hand to bring inflation to a high of 4 decades and on the other hand to stimulate the pace of global economic growth, with the first “recessionary Cassandras” coming to the fore, he added. Steriotis.

Dashboard

On the board now, Piraeus, Ethniki, Alpha Bank, Quest, OTE, Sarantis, Mytilineos, Coca Cola, Viohalco, PPA, Jumbo, Eurobank, OPAP, Ellactor, Terna Energy and Lambda are moving in positive territory, but none of them gains 1%.

On the other hand, Titan, ELHA, GEK Terna, Motor Oil and Aegean are moving slightly downwards, with EYDAP, Hellenic Petroleum and PPC following with losses exceeding 1%. IPTO loses 2.20%.