The growth target of VTB shares is 0.0515 rubles – ForTrader.org financial magazine


Trading results

In the previous trading session, VTB shares rose 2.33%, closing at 0.051165 rubles. The paper outperformed the market, which added 1.65%.

Short-term picture

Since the start of the trading session on Wednesday, VTB shares have broken through the upper border of the growing channel, as well as the levels of 0.05 rubles. and 0.05025 rubles.

Shares outperform the market for the second day. The breakout of the upper border of the growing channel is positive for the short-term picture. Now the target of growth is RUB 0.0515, as well as the upper border of the now new channel, which is now near the above-mentioned resistance.

Given VTB’s fundamentally strong case, a rise in stocks in 2021 looks justified. However, from a technical point of view, it is worth noting the overheating of the oscillators on the watch. The rise may continue in the coming days, however, it is unlikely that it will be possible to break through the new inclined resistance line without a corrective pullback.

On the daily interval, the indicators are mostly in neutral positions. Oscillators are close to being overbought, but there is still upside potential.

  • Resistances: 0.0515 / 0.052 / 0.0525
  • Supports: 0.05025 / 0.05 / 0.0495

External background

The external background is mixed this morning. American indices were slightly lower after the close of our main session on Wednesday. Asian markets are trading in positive territory today. Futures on the S&P 500 index are growing by 0.1%, Brent oil is in the red by 0.8% and is near the level of $ 71.7. All this allows us to assume that if the external background is preserved, the opening will take place near the close of the previous day.

Long-term picture

Long-term expectations for the security are moderately positive. In the first quarter of 2021, VTB posted a record quarterly profit, which became a strong driver for growth. The management plans that the II quarter also promises to be successful, and the profit targets for the year will be achieved, and at the upper limit. All this creates favorable conditions for further growth of quotations.

After updating local peaks on strong results of the first quarter, VTB shares corrected, unloading overheated oscillators. The two-week correction took the securities to the level of the 200-period moving average, from where the rebound started on the news on dividends and strong forecasts for 2021. With a calm external background, the rise in shares may continue. The target for the growth of securities on the horizon of the next 12 months can be designated 0.0575-0.06 rubles.

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