At the previous trading session rose by 0.68%. The closing price was 74.08 rubles. The shares were traded at the market level. The trading volume amounted to 1.92 billion rubles.
On Monday, the securities opened with a gap downward and declined to 72.68. Then a rise to the resistance level of 74 followed, and the price rolled back to 72 again. Both attempts of decrease were redeemed, which speaks about the strength of buyers. These factors indicate a continuation of the up-trend.
The technical picture suggests the following growth targets in the area of 78-81. A significant resistance on the way is the boundary of 76.
The scenario will be cancelled if the quotes fixation below the level of 72.6, then the way to the support of 70 will open.
On the 4h chart the RSI curve is in the overbought zone near the 70 p. Aeroflot is above the SMA and EMA moving averages. On the 4-hour MACD and RSI indicators we can see a weak bearish divergence. The indicators are showing local oversold, but the first thing to watch out for is the working out of the support and resistance levels: 72,6 и 74,2.
The external background is neutral in the morning. Futures are up 0.1%. Asian indices are traded multidirectional. decreasing by 0.1%. If the background remains, the opening on Aeroflot shares will be near Monday's closing level.
The maximum in Aeroflot shares was set in July 2017, since that month the securities are in a downtrend. During this period, quotations fell by 73%.
In October, there was a test of the strength of the strong support level of 55, and it held. And already on November 9, the largest daily trading volume in history took place, which is a strong argument in favor of the end of the fall and the formation of a new bullish trend.
The RSI curve is near the middle boundary of the channel at 51, which indicates the growth reserve of the asset and is an additional argument for buying.
At the beginning of the week, the price is above the 72.6 level, which indicates a continuation of the rise into the next sell zone of 78-81.
If the securities are under 70, then a prolonged sideways consolidation scenario will become relevant, the lower boundary of which might be around 55-58.