On the previous trading day, Gazprom shares rose 0.73% to close at RUB 232.62. The paper outperformed the market, which sank 0.09%. Trading volume for the share on the main market amounted to RUB 8.2 billion. with an average of 8.3 billion rubles per month. The 5-day average daily range is 370 minimum steps.
Gazprom shares at the end of the week began to form a rebound from the level of 230 rubles. amid warming market sentiment. Prior to that, quotes were in narrow consolidation for three days in a row. In general, the trend is growing, as indicated by the growth of local minimums. The closest significant resistance separating the instrument from movement to the area of 245–250 rubles is the zone of 238–240 rubles. It can be tested this week.
Medium-term outlook is positive. The uptrend remains in effect, as indicated by the position of the chart above the 200-period average on the 4-hour chart and by steadily growing local lows. Fixation above 230 rubles. paved the way for renewal of annual peaks and further growth. With a favorable sentiment, the levels are 250-260 rubles. can be achieved by summer.
- Nearest support levels: 230/227/221
- Nearest resistance levels: 236/238/240
The external background is mixed in the morning. American indices rose slightly after the close of the main session at the Moscow Exchange. Asian indices are mostly in positive territory. S&P 500 futures are up 0.1%. Brent crude is down 0.3% today. Futures on Gazprom shares during the morning session added 0.17%. All this suggests that if the background persists, the opening will take place near the closing level of the previous trading day.
The potential of the first wave of growth after the reversal of the 2020 downtrend was realized. After a slight correction, the shares attempted to gain a foothold above RUB 230, but the buyers very quickly gave in to the sellers and the quotes returned to their previous levels. The lateral period is likely to be a little longer. Nevertheless, in the future, relatively high prices for hydrocarbons, the prospect of high dividends and the probable completion of Nord Stream 2 may support quotes and help to recover to 12-year highs of about 270 rubles.
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