17.3 C
New York
Sunday, May 2, 2021
More

    Severstal share price forecast: Shares gained 0.91%, closing at 1811.6 rubles

    Trading results

    In the previous trading session, Severstal shares gained 0.91%, closing at  1811.6 rubles . The paper looked better than the market. Trading volume amounted to 1.4 billion rubles.

    CT Forcast: Crypto Price Analysis

    Do you know Bitcoin Price May Fall Ahead Of Chinese New Year says analyst yes, its true but this technical indicator can give you laser sharp entry points to invest money in cryptocurrency consistently.

    Short-term picture

    The price of Severstal shares on Thursday showed a rebound after three days of decline: however, less significant than even the intraday rebound of the previous day. Technically, the price is spreading along the April uptrend, to which it fell after the news about the FAS claims. By the drop in trading volume, we see that the consequences of the news in terms of the information available so far have already been digested by the market. (Also Read: Binance Coin (BNB) Price Prediction and Bank of France tested national digital currency)

    At the same time, the positive price conjuncture on the steel and iron ore market continues, provoking a gradual buyout of the drawdown.

    There is room for maneuver at the bottom, but locally, buyers are more likely to take over. Sellers need a new signal – a breakdown of support at 1769, which will shift the benchmarks up to 1722. RSI on the daily chart has just left the overbought zone.

    External background

    The external background is forming moderately negative this morning. Asian indices show a predominantly negative trend. Futures on the S&P 500 in the morning depreciated by 0.3%. Brent crude is down 0.5% today. The opening is expected just below the closing level of the previous session.

    Resistance Levels: 1817/1837/1853/  1911
    support levels:  1769  /1750/  1722

    Long-term picture

    Long-term upward trend in shares of Severstal continues. At the same time, the price has noticeably broken away from its 200-day moving average, there are signs of overbought. The positive steel price environment, stable quarterly dividends and double-digit dividend yields are attracting investors. The consensus forecast, according to Interfax, is currently at the level of 1,634 rubles.

    Latest Posts

    spot_imgspot_img

    Don't Miss

    Stay in touch

    To be updated with all the latest news, offers and special announcements.