Alrosa share price today: forecast and technical analysis

Trading results

In the previous trading session, Alrosa shares rose 0.8%. Closing took place at around 103.35 rubles. The papers looked slightly better than the market. The trading turnover amounted to more than 2.1 billion rubles.

Short-term picture

For the last 2 trading sessions, Alrosa shares continued to rise on the back of a strong financial report and expectations of fairly high dividends.

On the daily chart, the technical picture also began to improve: the MACD curves crossed and started an upward direction. The RSI indicator does not show overbought, and the oscillators indicate the superiority of buyers.

In the short term, growth may continue, for this it is necessary to overcome 104.2 rubles. upwards. This will open the way to 106 rubles.

However, the external background is mixed today: if it puts pressure on the market, then Alrosa shares are likely to return to 102 rubles. Return to 100-99 rubles. will serve as a negative signal for the resumption of the correction. Given the current positive, such a scenario looks unlikely, but is not completely ruled out.

  • Resistances: 104.2 / 106 / 107.5
  • Supports: 102/100/99

External background

The external background is mixed this morning. American indices declined after the close of our main session on Wednesday. Asian markets are trading mostly in negative territory today. Futures on the S&P 500 index are down 0.9%, Brent oil is up 0.45% and is around the level of $ 64.4. Futures on Alrosa shares are up 0.15% in the morning session.

Taking into account the results of the previous evening trades, it can be assumed that if the current background persists, the opening on Alrosa shares will be slightly higher than the closing level on Wednesday.

Long-term picture

The stock continued to rise continuously for 10 weeks. The paper got accelerated in the bull market after the US presidential election. At this point, the stock left the long-term downward channel. Supported by strong sales during the holiday season.

The MACD curves crossed and the RSI indicator came out of the overbought zone. Considering technical signals, a sideways consolidation or correction looks like a more relevant scenario. A decrease to 90 rubles is not excluded. In the future, we can consider the possibility of a new growth phase, since there are no significant drivers so far.

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