The stock market overcomes resistance

The Athens Stock Exchange continues to make gains today, which is in line with the positive climate caused by the latest decision of the Federal Reserve in the international markets, while the general index is in the critical zone of 840 – 850 units.

In particular, the General Index registers gains of 0.52% at 839.21 points, while the turnover is at 6 million euros and the volume at 2.4 million pieces. An increase of 0.64% was recorded by the FTSE 25, at 2,023.21 points, while the banking index recorded gains of 1.19% at 514.69 points.

Without sharing the enthusiastic movement of the American indices, the markets of Europe are moving slightly upwards, with the ASE also being on the same “line”. The whole planet is talking about the statements of the head of the Fed, J. Powell, in an attempt to diagnose whether the pace of tightening will slow down, also affecting capital flows worldwide.

Closing this front for the summer, the ASE is now waiting for the results of the major listed companies in the coming days. The results of the second quarter and the first half of the four systemic banks, which are to be announced by the first week of August, will naturally be in the spotlight. And according to estimates, they are expected to move within the positive forecasts that had been made since the beginning of the year.

However, the expectations for the market at the end of July are not so positive, as the zone of 840 – 850 units is the present and main resistance which certainly without the bank is difficult to test, let alone to break. The levels of 770-810 units are a price zone that has supports and we will hardly lose at least immediately. Don’t forget that as shallow as our market is in the fall, it is as shallow in the rise once it starts trending.

On the dashboard

On the scoreboard now, Ethniki scores a profit of 2.18%, with PPC, EYDAP, Piraeus, Titan, Alpha Bank, GEK Terna, Mytileneo and ADMIE following with profits exceeding 1%.

Eurobank, Coca Cola, Motor Oil, Quest, Hellenic Petroleum, Aegean, Biohalco and Ellactor are moving slightly upwards, while OTE, Sarantis and ELHA are unchanged. OPAP, Jumbo, PPA and Lambda are slightly down.