The worst dynamics among “blue chips” show “Norilsk Nickel” in the middle of the day renewing lows Friday

Written by admin on February 19th, 2010

the markets of developing "rebound" upstairs, anticipated as early as Friday night

At Russia"s stock market bounce up realized after three days of declines, the technical signals about the likelihood of which first appeared on Friday. To date, the MICEX Index adds 1 /3 per cent, while the individual "chips" are added more than 1.5%. As of Friday, its positive dynamics allocated Rosneft (2.2%) and Severstal (1.7%). Savings adds 1.5%. Gazprom, though, and demonstrates a relatively modest increase (0.8%), however, is one of the leaders of the rebound - his only major market managed to completely play Friday fall.

The worst dynamics demonstrates MMC Nornickel, in the middle of the day renewing lows on Friday and traded at this time with with 2% reduction on the closing levels of last week.

It is worth noting that in addition to technical signals on the rebound, bullish sentiment in the market today are supported by almost 1% growth rate futures on the S P500. At the same time, another significant market for Russia"s external indicators - the price of oil does not show growth, fluctuating near the Friday closing levels. Similar dynamics and European stock indicators (DAX -0.14%, FTSE 0.4%).

We continue to consider the observed increase in Russia today, the stock market as a technical rebound, getting under the current oversold on the "chips", and look forward to continued downward movement of the next target at 1,370 points on the MICEX. However, I would like to draw attention to the most successful in resisting the negative sentiment speculators paper. First, it Severstal. Of the more liquid distinguish Savings Bank, once again traded above its important level of support for 87 rubles., VTB, closed the gap new year, and Gazprom, which is at securing higher than 186 rubles. per share, will once again become interesting for the opening of the medium "Long". In the second echelon attention is drawn to the increased interest in the shares of generating energy companies (OGK-4 and InterRAO 4.5%, TGK-14, WGC-5 and TGK-9-more than 2% growth), while understated dynamics of regional telecom shares (Uralsvyazinform -1.3 % Dalsvyaz -2.8%, Volgatelecom -2.7%), raised against the market a day earlier.

We currently recommend conservative investors who came in the last two days in the money, to refrain from trading in the market. Speculators have meaning today or tomorrow before closing in the first half trading profit on record open for a "bounce" positions. From overlooking this statistics are expected, only sales data for homes in the secondary market in the U.S. for December, which, like the previously released statistics on the construction of new homes are expected weak (estimated -9.8% the previous month).

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