Stock Market Review for May 25, 2021 – ForTrader.org Financial Magazine


Market on the eve

The week started slightly positive. Domestic quotes were supported by dynamics on external markets and oil. The growth leaders on corporate news were HSCI shares (ISKJ 38.90, + 9.27%). The outsiders were the previously leading preferred shares of Mechel (MTLRP 108, -5.26%). The USD / RUB pair was trading in the range of 73.5-74.

Market and company news

The stock market is in a sideways trend in the absence of drivers. The news background is calm, corporate reports are not published, the dividend factor can be considered won back. The USD / RUB pair is likely to remain in the 72.50-74.50 corridor until the end of May. The factors contributing to the weakening of the ruble, in particular the outflow of dividends abroad, have not yet fully manifested themselves, and the tax period stimulates the sale of foreign currency earnings by exporters. The trading volume in blue chips has declined markedly. Most likely, movements on external stock and commodity markets will be recouped. There are no clear signals, so the speaker will be sideways. Better than the market, in our opinion, will be traded shares of representatives of non-ferrous metallurgy and the consumer sector.

Trading Ideas

X5 Group (FIVE 2,279.0, + 0.42%), spec. purchase, purpose: 2,400 rubles. The correction gave way to a rebound at the auction on May 21. We expect consumer stocks to demonstrate positive dynamics in the coming days. Unlike Magnit and Lenta, X5 shares have been steadily declining for seven months in the absence of fundamental drivers. X5 will remain the largest player in its segment, long-term target for the retailer’s shares: 3,150 rubles.

Expectations

We expect lateral dynamics. On the local market, the focus is on industrial production data for April, in the US – statistics on the real estate sector. Forecast for the USD / RUB pair: a corridor of 73.00-74.00. The benchmark for the Moscow Exchange index: a range of 3650-3700 points.

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