In the near future, MMK shares may start a test of 62.5 rubles – financial magazine

Trading results

In the previous trading session, MMK shares fell 0.79%, closing at 63.32 rubles. The papers looked roughly at the market level. The trading volume amounted to over 1 billion rubles.

Short-term picture

MMK quotes consolidated below the 21-day moving average, thereby passing the first line of defense of buyers. New support is at 62.5 rubles, where the 50-day moving average is slightly lower.

On the technical side, the decline may continue, as on the daily chart the RSI indicator is slightly below the neutral point, and on the weekly chart it just left the overbought zone. The external background is mixed today, and MMK futures have not changed significantly. We can assume that in the near future the test will begin at 62.5 rubles. A breakdown of the level from top to bottom will report a deeper dive towards 60 rubles.

If the external background normalizes, then MMK quotes may go sideways. Local improvement will be reported by a return above the 21-day moving average.

  • Resistance levels: 67.5 / 70 / 71.1
  • Support levels: 62.5 / 60 / 57.5

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 in negative territory today. Futures on the S&P 500 index are up 0.34%, Brent oil is in the red by 0.88% and is near the level of $ 68.7.

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

Long-term picture

On the weekly chart, trend indicators show an upward direction. The RSI indicator is pointing down. MACD curves are moving sideways.

Financial indicators due to the planned increase in production may improve in 2021. Now this is a driver of growth or maintaining a relatively high price. The long-term outlook is moderately positive. Buyers need to gain a foothold above 70 rubles, which will open the way to 75 rubles.

  • More forecasts and news on the Fortrader channel in Telegram

Market forecasts, analytics and stock news

Libertex [CPS] WW



MTP Procurement Management Procurement Bidding SRM Cost Optimization Team Management Cost Management SAP ERP Management Skills SAP ERP 1C Supply Control SAP / SRM SAP / R3 Analytical Thinking Working with Suppliers Result Oriented System Thinking Process Management Strategic Planning Project Management MsOffice Negotiations with company top officials Organization of procurement procedures Oil trading

Read Previous

Forecast for the ruble, EURUSD and S & P500 for today

Read Next

Escrow account (escrow) – financial magazine