At the end of trading Wednesday, the MICEX index rose 0.68% to 2101,07 points.
The growth was led by stocks of NOVATEK, Tatneft and awakened the shares of “Gazprom”. Wow, I thought our sleeping beauty woke up, not good, or rather a clear indication that the rise is nearing an end.
In fact on the horizon of recent years, shares in the gas monopoly last shot.
While growth has not exceeded the July peak, when prices rose to 126,35 rubles. I’m sure that near the turn of the price can hang out, or run into resistance in the face of slow moving average ЕМА200, which is located at level 126,84 rubles.
If the quotes will be able to overcome these obstacles, then a possible move prices to a level 129,96 rubles – this is the ultimate goal of increasing the equality of zigzags, where the first part was from 111,46 to 126,35 rubles. All this is true while we stay above the level of 124 rubles.
I also want to draw your attention on the behavior of the shares of Tatneft, which already came out yesterday to the range 427-432 rubles. Recently (in a review of 25 September) I suggest you to pay attention to these securities due to their daily/weekly charts the ascending “triangle”. The prices are really knocked this formation up, since they have already added about 30 rubles (+7,5%) and continue the upward movement.
The next two resistance levels 426,40 and 427,65 rubles – peaks Dec 2016. yesterday was taken above are only levels 438,65 and 439 roubles peaks in January 2017, after their capture at stake there will be only a historic peak at the level 448,65 rubles.
In my opinion, a high likelihood of upgrade, but a zone of fixation of long positions, I would have expanded to 448-450 rubles.
Anastasia Ignatenko, a leading analyst GK Teletrade