The Stock Exchange managed to close positively again

At the lowest possible cost, the Athens stock exchange maintained its now seven-day bullish streak, as it closed with small gains, which managed to maintain the acquired critical technical levels, giving the signal that its reaction may not be complete.

In particular, the General Index closed with a rise of 0.05% at 870.24 points, while today it moved between 866.37 points (-0.40%) and 872.51 points (+0.31%). The turnover amounted to 73.1 million euros and the volume to 43.2 million pieces, while 9 million pieces were traded through pre-agreed transactions (especially in banks).

The high-cap index also closed up 0.05% at 2,109.36 points, while the Mid Cap ended up +0.44% at 1,386.97 points. The banking index closed up 0.25% at 565.99 points.

Amid countervailing forces

The AX may have struggled to continue its upward streak, but today there was no shortage of stocks that offered support and tested higher levels in the General Index, a sign that some of the liquidity secured by the correction of several stocks was redeployed to the board. So we saw countervailing forces fighting for levels, with the AX moving in a narrow range.

What was troubling, of course, was that the signs on many securities were volatile, but no one denied the AX’s ability to defend against profit-taking moves. It was a picture that was more or less expected, as after the positive run of the last interval the gains in most securities were attractive to hold.

The protagonist today was again the banking sector, as it also completed the announcement of the results. However, as observed by Apostolos Manthos, the branch has split upward both the medium-term downward pivot “Q” and the horizontal resistance line at 515 to 510 units. The next upward target is located at 575 units with the most important introduction of the indicator within the area of ​​600 to 622 points, which looks difficult at the moment due to the strong percentage movement without much breather stop.What should not be lost from the hands of the buyers is the bullish gap caused on Monday at around 526 points. A bearish break below that will reverse the current short-term scenario.

However, in the coming days, international developments may monopolize the interest of domestic investors, as interest gradually decreases due to summer seasonality. The “big ones” will come after August 20, according to domestic analysts, when large portfolios will slowly return, reassessing the developments, which will affect markets internationally. After these dates, there will be a better picture of the intentions of the central banks, which in recent months affect the mood in the markets worldwide.

On the dashboard

On the board now, Ellactor closed with a jump of 5.86%, with PPC closing at +4.20%. Above 1% was the increase in Piraeus, Ethniki and Titan, while Lambda, ADMIE, Viohalko, Mytileneos, Jumbo, Sarantis and OPAP moved slightly upwards.

On the contrary, EYDAP lost 2.24%, with Coca Cola, OTE, Quest and PPA following with losses of more than 1%. Motor Oil, Eurobank, Aegean, Alpha Bank, GEK Terna, Hellenic Petroleum and Terna Energy closed slightly down.