On the previous trading day, Lukoil shares rose 0.51% to close at RUB 6,008.5. The security looked at the market level, adding 0.21%. Trading volume for the share on the main market amounted to RUB 4.6 billion with an average of 7 billion rubles per month. The 5-day average daily range is 280 minimum steps.
Lukoil shares on Thursday were slightly better than the market and consolidated above RUB 6,000, which gives hope for further recovery. However, the trading turnover was significantly below average, and fixation above the round mark occurred in the last hour of the evening session, which somewhat reduces the predictive value of the signal. Downside risks still persist, although there is no reason to update local minimums.
The medium-term outlook is moderately positive. The theoretical fair range is 6000–6500 rubles. provides a small upside from the current levels. In case of favorable market conditions, the instrument may again attempt to gain a foothold above RUB 6,300, but without a significant driver this looks like an unlikely scenario.
- Nearest support levels: 5950/5900/5800
- Nearest resistance levels: 6050/6190/6300
The external background is mixed in the morning. American indices remained at the same levels after the close of the main session at the Moscow Exchange. Asian indices are trading in negative territory. S&P 500 futures are up 0.1%. Brent crude is down 0.1% today. Futures on Lukoil shares lost 0.05% during the morning session. All this suggests that if the background persists, the opening will take place near the closing level of the previous trading day.
After leaving the protracted consolidation in the region of 5500-6000 rubles. Lukoil quotes are ready to continue recovery. The upside potential is located in the area of the levels of the beginning of 2020, when the quotes indicated an all-time high at around RUB 6,810. The record can be rewritten. The psychological level that investors can focus on as a target for fixing profits may be 7,000 rubles.
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