Gazprom share price today: forecast and technical analysis

Trading results

On the previous trading day, Gazprom shares rose 0.92% to close at RUB 223.65. The security looked at the market level, adding 0.52%. Trading volume for the share on the main market amounted to RUB 8.2 billion. with an average monthly of 10.8 billion rubles. The 5-day average daily range is 460 minimum steps.

Short-term picture

On Wednesday, Gazprom attempted to bounce off the strong support of RUB 220-222. The growth was modest, but it can stimulate other traders to join the movement in the presence of favorable sentiment. Within the range of 222-230 rubles. quotes may well test the upper boundary on the horizon of the coming days. Prospects for overcoming 230 rubles. and the development of a longer trend is still vague, although at the medium-term timing such a scenario is quite probable. Prior to that, quotes may consolidate in the sideways range of 215-230 rubles.

  • Nearest support levels: 222/220 / 217.4
  • Nearest resistance levels: 225.5 / 227/230

External background

The external background is mixed in the morning. American indices fell after the close of the main session at the Moscow Exchange. Asian indices are mostly in positive territory. S&P 500 futures are up 0.2%. Brent crude is down 1.5% today. Futures on Gazprom shares during the morning session added 0.13%. 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

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 by the levels of the end of 2019.

  • More forecasts and news on the Fortrader channel in Telegram

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