Towards the levels of 890 points, the Stock Exchange is ‘seeing’

The Athens Stock Exchange is moving upwards today, which manages to approach the zone of 890 units, although the momentum to recover the level is absent in the heart of August.

In particular, the General Index registers gains of 1.10% at 888.41 units, while the turnover is at 27.6 million euros and the volume at 17.6 million pieces. An increase of 1.30% was recorded by the FTSE 25, at 2,148.76 points, while the banking index gained 2.16% at 584.89 points.

Increased connection with strangers

The General Index is at two-month highs, taking advantage of the rally of foreigners, who continue to climb over the “wall of fear” related to worries about the path of the global economy, according to certified analyst Petros Steriotis. Given the recent high correlation (correlation) of the General with the Dow Jones etc., the developments “across the Atlantic” after the close of the Greek session and until 11 p.m. they give an idea of ​​what to expect from Athens Avenue at the next opening.

According to Mr. Steriotis, diagrammatically the meeting of the DG with the simple moving average of the last 200 meetings is worth mentioning. The gauge in question theoretically separates a bull from a bear market, at least in the eyes of several institutions that want to have the “big picture”. In any case, in conjunction with the bullish signals in force, Greek investors are asked to keep in mind the “overbought” oscillators that are interest of the bullish momentum.

Also, according to Apostolos Manthos, unless something changes for the worse than what we expect and we have discounted by a large degree, the base of 800 units could hardly be lost, while at the same time the chart bets will start to rise more and more for the index to pass even above 935 units. In the short-term field, what is visible is an attempt to push above 850 to 840 units with an upward stretch towards 900 units pending the announcements of the results of the first half of the year for the companies that make up the index.

On the dashboard

On the board now, Piraeus marks a jump of 3.68%, with Alpha Bank, Titan, PPC and OPAP following with a rise of more than 2%. Above +1% are ADMIE, Sarantis, Eurobank, Mytileneos, OTE, Hellenic Petroleum, Biohalco, ELHA and GEK Terna.

Terna Energy, Aegean, Coca Cola, Quest and Lambda are moving slightly upwards, with PPA not changing. A small drop, on the other hand, is noted by EYDAP, while Motor Oil, Jumbo and Ellactor are down more than 1%.