The Athens Stock Exchange is moving slightly lower today, as the negative turn of the banking sector puts to the test its upward streak and its presence above the critical technical level of the 200-day moving average.
In particular, the General Index recorded losses of 0.10% at 869.35 points, while the turnover is at 7.9 million euros and the volume at 4.9 million pieces. The FTSE 25 also fell by 0.20%, at 2,105.15 points, while the banking index lost 0.52% at 563.07 points.
The market needs to consolidate its presence above the 866.86 level, where the 200-day EMA crosses, in order to sustain the short-term uptrend. So far it appears to be succeeding, not so much by the strength of the turnover, but by the fact that it absorbs the pressures of the reasonable corrective movements that occur after the multi-day bull run.
Already, the market has recorded just one down session since July 15th, recovering from the 800-point zone and recording gains that in the complex environment it is in are attractive enough to hold. In fact, the corporate results that were announced provided important grounds for maintaining the upward streak, which if accompanied by an increase in turnover would constitute a remarkable recovery.
What is conveyed by the domestic analysts at Capital.gr, however, is that the test of the upward streak, but also of the levels, will not be immediate, unless some catalyst manifests itself that changes the outlook of the market. Seasonality, as is traditionally the case in August meetings, postpones many strategy moves, at least the big ones, that could strengthen the market trend. The important things are therefore expected towards the end of August, when the developments on the critical fronts plaguing the European economy will accelerate.
On the dashboard
On the board now, EYDAP is losing 2.03%, with Alpha Bank, Hellenic Petroleum, PPC, Motor Oil, Eurobank, Jumbo, Ethniki, GEK Terna, OPAP and Sarantis following in declining territory, but not exceeding -1 %.
On the contrary, PPA gains 1.04%, with Piraeus, Ellactor, Aegean, OTE, Biohalco, Lambda, Terna Energy, ELHA, Quest, Coca Cola and Mytileneos moving with small gains. Without change are ADMIE and Titan.
The upward streak of the Stock Exchange is being tested
The Athens Stock Exchange is moving slightly lower today, as the negative turn of the banking sector puts to the test its upward streak and its presence above the critical technical level of the 200-day moving average.
In particular, the General Index recorded losses of 0.10% at 869.35 points, while the turnover is at 7.9 million euros and the volume at 4.9 million pieces. The FTSE 25 also fell by 0.20%, at 2,105.15 points, while the banking index lost 0.52% at 563.07 points.
The market needs to consolidate its presence above the 866.86 level, where the 200-day EMA crosses, in order to sustain the short-term uptrend. So far it appears to be succeeding, not so much by the strength of the turnover, but by the fact that it absorbs the pressures of the reasonable corrective movements that occur after the multi-day bull run.
Already, the market has recorded just one down session since July 15th, recovering from the 800-point zone and recording gains that in the complex environment it is in are attractive enough to hold. In fact, the corporate results that were announced provided important grounds for maintaining the upward streak, which if accompanied by an increase in turnover would constitute a remarkable recovery.
What is conveyed by the domestic analysts at Capital.gr, however, is that the test of the upward streak, but also of the levels, will not be immediate, unless some catalyst manifests itself that changes the outlook of the market. Seasonality, as is traditionally the case in August meetings, postpones many strategy moves, at least the big ones, that could strengthen the market trend. The important things are therefore expected towards the end of August, when the developments on the critical fronts plaguing the European economy will accelerate.
On the dashboard
On the board now, EYDAP is losing 2.03%, with Alpha Bank, Hellenic Petroleum, PPC, Motor Oil, Eurobank, Jumbo, Ethniki, GEK Terna, OPAP and Sarantis following in declining territory, but not exceeding -1 %.
On the contrary, PPA gains 1.04%, with Piraeus, Ellactor, Aegean, OTE, Biohalco, Lambda, Terna Energy, ELHA, Quest, Coca Cola and Mytileneos moving with small gains. Without change are ADMIE and Titan.
Source: Capital
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
You may also like
Young Entrepreneurs Sending Gifts To Their Generous Supporters!
The Beauty and Personal Care products company, which was established by a group of young people in Florida State of
USD/JPY hits 34-year highs with dollar gaining ground again
USD/JPY hits another multi-decade high amid enthusiasm for the US Dollar. US economic exceptionalism and the massive sell-off in US
Sam Benkman-Fried will help prosecute celebrities who advertised FTX
Some investors of the FTX cryptocurrency exchange agreed to drop its claims against its former CEO Sam Benkman-Fried (SBF) in
Belgium, the strange case of the man who produces alcohol with his body, acquitted of drunk driving
They fined him and took away his license several times for drunk driving. A forty-year-old Belgian also ended up in
Cesare Cremonini and Giorgia Cardinaletti, the first photo together on social media (with Valentino Rossi)
Of the relationship between Cesare Cremonini44, e Giorgia Cardinaletti, 36, has been rumored for a year. It was April 2023
US April PMI data preview: Economic strength expected to extend into early second quarter
S&P Global PMIs are expected to indicate that US business activity continued to grow in April. Manufacturing and service production
Impressive aerial photos before and after the floods in Dubai
Unprecedented, torrential rains submerged parts of the United Arab Emirates last week, with Dubai turning into a…lake. This is the
Get the latest
Stay Informed: Get the Latest Updates and Insights
Most popular
Young Entrepreneurs Sending Gifts To Their Generous Supporters!
USD/JPY hits 34-year highs with dollar gaining ground again
Sam Benkman-Fried will help prosecute celebrities who advertised FTX
Belgium, the strange case of the man who produces alcohol with his body, acquitted of drunk driving
Cesare Cremonini and Giorgia Cardinaletti, the first photo together on social media (with Valentino Rossi)