Athens Stock Exchange: Buyers weak in the face of pressures

The picture at the Athens Stock Exchange, today, shows intense nervousness and a fight to keep the general index in the zone of 1,150 units, whose shallowness and low trading have intensified the volatility today.

In particular, the General Index recorded losses of 0.35% at 1,149.94 units, while the turnover is at 29.9 million euros and the volume at 7.5 million pieces. The FTSE 25 also registered a fall of 0.36%, at 2,797.83 points, while the banking index lost 0.47% at 890.17 points.

In a quagmire

From the rise to the fall, and from the pressures to the defense. Without a clear pace, ATHEX is trying to stop the slide, but it also has to face the extremely negative climate in all the now small portfolios, which see the market through the prism of the last month. That is, the month of the fall and the correction of the excesses of the preceding rally.

No one is willing to stay exposed for long in a market that has been highly sensitive to negative catalysts lately, with every bounce being an opportunity for new liquidations. This is also the image conveyed to ot.gr by the desks, with the market having come out of the “headiness” of the previous bull market and having returned to the suspicion that the crisis bequeathed to the residents of Athinon Avenue.

Thus, from the 1,351 units of the last days of July, the “castles” of supports are falling with few remaining on the ramparts to face the “speculators” of profit taking. And we’ve come to today being under siege at 200, which technically divides the long-term trend into an uptrend and a downtrend. Loss looks increasingly likely, paving the way for spring supports, which have questionable staying power.

On the board

Cenergy is still under suffocating pressure today, with losses of 3.74%, while earlier it was at -5.10%. At -2.18% and index-weighted Coca Cola, with Eurobank “competing” it with its own -2.05%. Above 1% is the fall in Quest, Biohalco and Autohellas, while Ellactor, PPC, ELHA, Hellenic Petroleum, Piraeus Bank, Mytileneos and Titan are moving slightly lower.

Terna Energy is trying to restore its prestige with today’s +2.58%, with EYDAP at +1.09%. But the profits are small for National Bank, OPAP, Lambda, Motor Oil, Jumbo, Alpha Bank, Aegean and OTE. Sarantis is unchanged.