The Stock Exchange is looking for support for the 950 units

The Athens Stock Exchange is still called upon to confirm the levels of 950 points, which, although moving with a sufficient dose of caution, is currently managing to find some support so as not to lose the seven-year high.

In particular, the General Index records gains of 0.40% at 953.23 points, while the turnover is at 3.3 million euros and the volume at 2 million units. The FTSE 25 also rose 0.35% to 2,300.10 points, while the banking index gained 0.57% to 646.70 points.

Trading activity today appears, but is also expected to be low, due to the American holiday, while the fact that Fitch limited itself to upgrading only the prospects of the Greek economy does not help the market return to its strongly upward trajectory. So the picture today is for the banking sector to maintain the positive rhythms, with the profits being “shared” in several securities of the medium capitalization, an element that is particularly positive for the depth of the rise.

With the look higher

According to Ilias Zacharakis of Fast Finance, day by day we see more and more companies upgrading their banking goals with the industry now heating up machines aiming at gradually higher goals. Every week that passes, the Greek market certifies that it can be the protagonist for 2022. Of course, we have not yet seen a diffusion in the good psychology, since in every upward spike new funds are added for investments, usually at the wrong timing in the short term. The point is that the market now has very strong foundations that will support any upward movement in the coming years, something that was clearly lacking in previous years.

Technically day by day we see that titles record new perennials high with many charts being high promising. Ahead of us we have the 980 and 1000+ units as targets of the DG while the banking sector is clearly aiming at significantly higher levels after the new highs. At FTSE 25, the next near target is 2,370 with 2,487 points being the big one. The banking seems to have taken the reins of the market for good with 676 units being close resistance.

Dashboard

On the board, OPAP and Mytilineos lead the rise, with profits of more than 1%, with Ethniki, Piraeus, Alpha Bank, Eurobank, Jumbo, ELHA, Viohalco, HELEX, Aegean, PPC, Terna Energy, Lambda, Ellaktor and O to follow with small profits.

On the other hand, PPA, Titan, GEK Terna, Motor Oil, Sarantis are moving in negative territory, but none of them is losing more than 1%. IPTO and Coca Cola are unchanged.