On the previous trading day, Gazprom shares rose 0.37% to close at RUB 230.84. The paper looked at the market level, adding 0.26%. The volume of trades in the share on the main market amounted to 8.16 billion rubles. with an average monthly of 7.5 billion rubles. The 5-day average daily range is 380 minimum steps.
Gazprom remains above RUB 230 for the sixth trading day in a row, despite geopolitical tensions and other negative external factors. With sentiment warming, the patience of long holders can be rewarded.
Near-term futures for TTF gas have been growing continuously during the same six days, maintaining optimism about Gazprom’s profit forecasts in 2021. The outlook on the share is positive, even if, under pressure from the background, quotes will briefly go below the level of 230 rubles. Growth against the background of increased trade turnover may be a signal for an imminent breakdown of the resistance zone of 238-240 rubles. and further movement towards the following goals.
The medium-term outlook is moderately 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: 230/228/221
- 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 trading in positive territory. S&P 500 futures are down 0.2%. Brent crude is down 0.4% today. Futures on Gazprom shares during the morning session added 0.27%. 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 likely completion of Nord Stream 2 may support quotes and help to recover to 12-year highs of about 270 rubles.
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