Sberbank share price today: forecast and technical analysis


Trading results

On the previous trading day, Sberbank shares declined 0.82%, closing at RUB 272.93. The paper looked worse than the market, which added 0.35%. Trading volume for the share on the main market amounted to RUB 11.2 billion. with an average monthly of 15 billion rubles. The 5-day average daily range is 490 pips.

Short-term picture

For six trading days, Sberbank shares remain in the corridor of 270–276.5 rubles, despite the upward dynamics of the market. Within a wider range of 260-285 rubles. the tool generates movement to the upper border, which smoothly flowed into the active side.

Until the support is 270 rubles. remains relevant, the baseline forecast assumes a return to growing dynamics after overcoming 276.5 rubles. However, there are no other positive signals on the chart, so the possibility of an alternative scenario with a breakdown of RUB 270 remains possible. and the deepening of the drawdown to 260 rubles.

In the mid-term horizon, Sberbank shares may remain in the corridor of 260-288 rubles. A breakdown of the upper border of the corridor and fixation at new levels may open up the potential for a new wave of growth in a long-term uptrend.

Nearest support levels: 270/260/250

Nearest resistance levels: 276.5 / 285 / 287.7

External background

The external background is positive in the morning. American indices rose on Thursday. The bank’s depositary receipts in the US and London rose 1.2% and 0.6%, respectively. Asian indices are mostly in positive territory this morning. S&P 500 futures are up 0.4%. Brent crude is up 0.2% today. All this suggests that if the background remains unchanged, the opening will go above the closing level of the previous trading day.

Long-term picture

Sberbank’s share price broke through a five-year uptrend at the beginning of the year, but after consolidating in the mid-term, holding above the lows of 2018, it got out of it.

A mid-term uptrend has been forming from the March lows for six months. With the release of dividends, it was broken, but the price was able to close the dividend gap in just over a month and subsequently broke the 2020 downtrend and resistance stretching from the 2018 highs.This movement led to the renewal of record levels.

Historically, the trend remains upward. The Bank occupies a leading position in the Russian economy, developing many digital services not directly related to banking. The consensus forecast is at 330.2 rubles. per share.

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