Athens Stock Exchange: “Cut” the 6-day bullish thread, great mobility in packages – Economic Post

After a session of high volatility, several sign changes in most stocks, increased turnover and a trading suspension, the Athens stock market finally corrected, breaking its six-day bullish streak, with the size of the fall accelerating after Wall’s “bad” opening. Street.

In particular, the General Index closed with a fall of 0.93% at 1,435.19 points, while today it moved between 1,448.70 points and 1,434.89 points (-0.95%). The turnover amounted to 143.1 million euros and the volume to 35.7 million pieces, while 11.1 million pieces worth 41.5 million euros were traded through pre-agreed transactions. Especially on the package front, Piraeus alone handled 3.98 million pieces worth 15.79 million euros, Eurobank 6.3 million pieces worth 12.64 million euros. Smaller were the packages in Ethniki, Optima Bank, Mytilineo, Terna Energy, AIA and Sarantis.

The high-cap index closed with losses of 0.95% at 3,499.66 points, while the Mid Cap closed at -0.98% at 2,292.10 points. The banking index closed down 1.16% at 1,249.87 points.

EpsilonNet and correction

Admittedly, the focus of the market today was the business developments at EpsilonNet, which confirmed, after a question from the Capital Market Commission, that there are negotiations regarding a strategic collaboration with a foreign investor. In fact, the negotiations are in the final stage. The stock was suspended, with the market awaiting developments in one of the industry’s strongest companies.

Beyond that, however, the market moved at the pace of profit-taking, a development that was completely expected after the explosive rise of the last few days. In fact, intra-session he made a move to overturn the negative sign, but this was not successful, with the final picture also being affected by the course of the American market and then the US GDP data.

Next, according to Petros Steriotis, Member of the International Federation of Technical Analysts (IFTA), we cannot ignore the buy signals that the AX itself offers through the price process. On the other hand, of course, we cannot ignore the dynamics that the next moves to secure profits or even a hasty “exit” from the Capital Markets can acquire.

Henceforth we expect the publication of company results in developed economies, with the said procedure for Greek listed companies often -unfortunately- suffering from… a delay. At the same time, the total capitalization may have crossed the 100 billion euro mark again, an amount that is highly appreciated given the recent past, but on the other hand it is particularly small for international Portfolio Managers who are looking for highly liquid Markets.

Graphically, looking for “tops” for securities that make new highs is particularly difficult and costly. For the General Index, the “key” will be the non-violation of the March highs, which are now close supports.

On the dashboard

On the board now, Viohalco lost 3.14%, with Saranti, Motor Oil, ELHA and Ellactor following with losses that exceeded 2%. Above 1% was the fall in Piraeus, OPAP, Mytileneos, Lambda, Eurobank, Quest, Autohellas, Ethniki and GEK Terna.

Cenergy, PPC, OTE, EYDAP, Titan, Aegean, Coca Cola, Hellenic Petroleum and Terna Energy closed slightly lower, while Alpha Bank and Jumbo closed slightly higher.