ATHEX – General Index maintaining profits

The Greek stock market is trying to cover yesterday’s lost ground, thus remaining faithful to the “safe waters” in which it moves this week, without greater risk-taking dispositions.

The general index moves with gains of 0.58% to 889.25 points, having significant support from the profits of Alpha Bank (+ 2.18%).

However, in order for the ATHEX to break the accumulation of the last days, it will have to cross the resistance of 895 points. And, as Trader24 points out, the inability to reach this resistance strengthens the belief that the reason for the release from buying positions was sought once again, along with the acceptance of the negative momentum and the lack of patience of short-term players to maintain their investments.

The formation leads fatally to levels around 835-840 units, which are also the support for the medium-term weak formation, with the first stop at 860 units. Thus, as long as the technically negative scenario is maintained, the movements from buyers, with a longer-term horizon, are absent or are very selective, abandoning control of the market in the short-term.

In terms of securities now, apart from Alpha Bank, profits in Aegean, Jumbo, Titan, IPTO, Piraeus and Hellenic Petroleum exceed 1%. The contribution of OTE, National Bank, Coca Cola, Motor Oil, OPAP and Terna Energy is positive, while the -0.45% of Eurobank and the small losses in Viohalko and Mytilineos do not allow the general index to move higher.