On the previous trading day, shares of Sberbank rose 1.68%, closing at 288.5 rubles. The paper outperformed the market, which added 0.84%. Trading volume for the share on the main market amounted to RUB 18.2 billion with an average monthly of 13.2 billion rubles. The 5-day average daily range is 470 minimum steps.
Sberbank shares on Friday rose within the monthly trading range of 278-296 rubles, demonstrating dynamics better than the market and emphasizing the preservation of the medium-term ascending channel. The external background this morning may have a restraining effect on the instrument, so while a new wave of growth is not expected. A local obstacle can be met already at the level of 291.5 rubles. At the same time, warming sentiment in the future may spur quotes to retest the level of highs in the region of 296 rubles.
The mid-term outlook on Sberbank shares is positive. The continued upward trend and a strong fundamental case give reason to expect a new wave of growth as the mark of 296 rubles is overcome.
- Nearest support levels: 278/273/260
- Nearest resistance levels: 291.5 / 296/300
The external background has been forming moderately negative in the morning. American indices rose slightly after the close of the main session at the Moscow Exchange. Asian indices are mostly in positive territory. S&P 500 futures are down 0.1%. Brent crude is down 0.4% today. Futures on Sberbank shares are losing 0.84% this morning. All this suggests that if the background persists, the opening will take place near or below the closing level of the previous trading day.
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 352.2 rubles. per share.
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