There are only two sessions left until the end of June and the first semester of Stock Exchange of Athens which is now called to protect the precious support of 1,400 units.
There it is three consecutive bearish sessions, it is possible that the negative climate will “test” the strength of the critical limits, which remain not to be exceeded from April 19that is, for at least two months.
Any loss of 1,400 units, according to analysts, would bring forward a share of 1,380 – 1,360 unitsexcept for him average over the last 200 days (1,339 points), which is related to the long-term trend.
On the other hand, 1,460 points still constitute the main resistance of the General Index, which it was -6.5% away from this year’s high of 1,502 units (closing May 20).
As for the reasons for the ongoing collapse of the Athens Stock Exchange, the explanation has to do with a combination of negative developments, affecting the short-term climate.
The imposition of emergency tax on refineriesthe government’s pressure on the banks on the issue of case and the scenarios for the possible intervention of the Ministry of Finance, the absence of positive catalysts, the non-participation of the AA in MSCI watch list and of course, its climax French political drama ahead of the first round of parliamentary elections on Sunday.
All of this limited the investment perspective and “cut” the traders’ willingness to take risks. So the short-term downtrend of GD, which in the last 30 days lost -5%, fell below + 9% yield from early 2024.
However, this folding created attractive entry points in many areas, especially High Capitalization, which under conditions can be taken advantage of by investors, offering selective supports.
At the same time, the end of the semester it provides an opportunity to arrange and beautify portfolios (window dressing), something that usually happens in those periods of time.
On losses abroad
Abroad, today, nervousness and anxiety remain a dominant feature of Europeresulting in a total index Stoxx 600 heading for another bearish session.
On the other side of the Atlantic, after a strong close last night, futures are now on Wall Street portend slightly negative changes for the main indicators, with S&P 500 to remain, however, at a breathing distance from 5,500 units.