In Alros' shares a negative scenario was realized, the price was able to gain a foothold below the 50-day moving average. Bears and Bulls power oscillators show the growing superiority of sellers. The RSI and MACD curve indicators are downwards, signaling a downward trend.
The external background today is negative, and there is still room for decline. Therefore, it is not ruled out that in the short term the price will move to 96 rubles.
In the medium term, both options seem justified. At the same time, short-term rebounds are not excluded in a stable market and support of the external background. Due to the lack of short-term positive drivers it is still difficult to talk about a new phase of growth, the correction looks more necessary.
The external background is negative this morning. U.S. indices rebounded slightly after the close of our main session on Thursday. Asian markets are now trading in negative territory. Futures are down 0.29%, in the red by 1.5% and is around the level of $63.
Taking into account the results of the previous evening trading, it can be assumed that if the current background is maintained, the opening of Alros shares will be below The Level of Thursday's close.
The steady rise in the stock lasted 10 weeks. Acceleration of the paper got in the bull market after the US presidential election. At that moment the shares left the long-term downward channel. Support is provided by strong sales results during the festive period.
MacD curves have turned in a neutral direction, if they cross, it will serve as a signal of a deeper correction. The same is confirmed by the RSI indicator, which is in the overbought zone. So far, the more relevant scenario is lateral consolidation or correction. In such a scenario, a new phase of growth can be considered in the future.