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Sberbank Shares: Short Term Outlook, External Background, and Long Term Picture

Sberbank shares have been growing 0.9% since the opening of the session and are trading around 265.4 rubles.

Short term picture

• Sberbank shares on Friday formed the basis for updating the monthly maximum and today, from the opening of trading, they will implement this scenario.

• The next nearest resistance is the horizontal level of 265 rubles, which coincides with an inclined line drawn through local highs and signaling a correction. Fixing above these obstacles will open the way for the instrument to 273 rubles. – annual maximum.

• The medium-term outlook for the stock is positive. The prospect of high profits and generous dividends makes the stock an interesting buy. The technical target on the medium-term horizon may be around 280 rubles.

External background

The external background in the morning is moderately positive. Asian indices are trading in different directions. S&P 500 futures fall 0.8%. Brent oil is up 2.7% today.

Support levels: 262.5 / 258 / 255
Resistance levels: 265 / 269 / 273

Sberbank chart online

Long term picture

• The price has lost 40% from record levels. Against the backdrop of the geopolitical situation, the long-term trend dating back to 2014 was broken in February 2022.

• Support was found at the level of a gently rising trend that extends from the 2009 lows.

• As the price recovered, it reached the 200-day moving average and settled above it, which gives a positive signal.

• In February 2023, quotes reached new annual highs, and subsequently growth accelerated on news of high dividends. The target price of BCS analysts on the horizon of the year is 350 rubles.

Read also: Detailed description of all technical indicators

BCS World of Investments

2023-10-10 14:14:37
#Sberbank #Stocks #highs #Technical #analysis #BCS #Express

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