Gazprom share price today: forecast and technical analysis

Trading results

In the previous trading session, Gazprom shares rose 1.23%. The closing took place at the level of 215.32 rubles. The paper looked the same as the market as a whole. The trading turnover amounted to approximately 11 billion rubles.

Short-term picture

Gazprom shares began the previous trading session with negative dynamics amid uncertainty around the levels of oil production cuts by OPEC + countries. However, the end of trading took place noticeably above the opening levels, near the session highs. Buyers were able to gather near the lower boundary of the medium-term upward channel. A candlestick formation on the daily chart indicates buying activity. The dynamics of external stock exchanges in the morning may not have a significant impact on the security.

Gazprom shares are supported by rising gas prices. In Europe, quotes for the nearest contract for TTF exceeded $ 250 per thousand cubic meters against the backdrop of a cold winter and similar forecasts for the entire January. Also, the demand for securities of the Russian oil and gas sector grew after the OPEC + compromise meeting. Russia will increase production, but in general, the reduction of restrictions will follow a softer scenario.

Securities today may be supported by statistics on gas supplies to China via the Power of Siberia. In the first days of 2021, the daily supply volume doubled the volume of the IV quarter. 2020 and also by 220% exceeds the minimum contract volumes of the 1st quarter. 2021, RIA Novosti writes. Earlier, Gazprom reported that for the entire 2021 the company could increase supplies to China via the Power of Siberia to more than 7 billion cubic meters.

The update by Gazprom’s quotes of Monday’s highs may provoke an acceleration of positive dynamics on technical factors. Fixing above 217 rubles. and the complete closure of the gap in February 2020 will pave the way for reaching resistance in the area of ​​222 rubles.

There are no clear signs of a change in the medium-term trend to negative so far. However, an important issue in Gazprom’s case is the sanctions rhetoric. Joe Biden and the new White House administration are expected to take office in January, which carries some uncertainty.

  • Resistances: 217/222/228
  • Supports: 212 / 206–207 / 200

External background

The external background is neutral in the morning. American sites have grown. Futures for the S&P 500 index in the morning is down 0.4%. Brent crude is up 0.6%. Asian sites are trading mostly in negative territory. All this suggests that if the background remains unchanged, the opening will take place near the closing level of the previous trading day.

Long-term picture

Gazprom quotes have reached the psychologically important level of 200 rubles. against the backdrop of positive corporate news. Last week, the June local maximum in the area of ​​207 rubles was overcome. Quotes rushed to the resistance of 217 rubles. But it didn’t work out to close the February gap or just stay close to the indicated marks.

After a fairly rapid correction, the quotes were below the level of 207 rubles. and reached the support of 200 rubles. Buyers were able to get the stock back above the mid-term support trendline. Threats of new sanctions against Nord Stream 2 carry high short-term uncertainty, but investors are now focused more on rising gas prices in Europe, which have already exceeded $ 250 per thousand cubic meters.

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