Sberbank share price today: forecast and technical analysis

Trading results

On the previous trading day, Sberbank shares rose 1.02% to close at RUB 317.94. The paper outperformed the market, which added 0.67%. Share trading volume on the main market amounted to RUB 17.9 billion. with an average monthly of 14.3 billion rubles.

Short-term picture

Sberbank shares are growing for 5 days in a row ahead of the dividend cutoff. The stock closed Friday trading session near all-time highs about 10% above the 50-day moving average. The very fact of the rally indicates the optimism of investors who are ready to buy the bank’s shares and are not afraid of a dividend gap. Overbought is observed locally. The signal line of the RSI oscillator on the daily chart has almost reached 80%.

Today the shares are traded with dividends for the last day. Tomorrow trading will open with a dividend gap, which may be about 16.2 rubles. At today’s session, this fact may have a restraining effect on quotes, although within the medium-term ascending channel there is still potential for movement up to 323-324 rubles.

Taking into account the favorable market background and the expected increase in dividends next year after the dividend gap, increased activity of buyers is likely, which will support the quotes. Short-term dynamics can be suggested by the behavior of stocks immediately after the gap. If the quotes build a consolidation above the opening price, then the breakdown of the upper border of this consolidation may be a good signal, foreshadowing growth.

The mid-term outlook on Sberbank shares is positive. The continued upward trend and a strong fundamental case give reason to expect a continuation of the growing wave in the future.

  • Nearest support levels: 315.5 / 301.9 / 296
  • Nearest resistance levels: 320/323/325

External background

The external background is neutral in the morning. American indices remained unchanged after the close of the main session at the Moscow Exchange. Asian indices are trading in different directions. S&P 500 futures are up 0.2%. Brent crude is down 0.1% today. Futures on Sberbank shares this morning added 0.23%. All this suggests that if the background persists, the opening will take place near the closing level of the previous trading day.

Long-term picture

Sberbank’s share price has historically been in an upward trend. In 2020, it was able to break up from broad consolidation and renew record levels. The mid-term trend is also growing now, but this trend is increasingly shifting to a wide sideways trend.

The bank occupies a leading position in the Russian economy, developing many digital services that are not directly related to banking. The consensus forecast is at 357.6 rubles. per share.

  • More forecasts and news on the Fortrader channel in Telegram

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