Sber Bank stock analysis
Sberbank's stock breached the support level represented by the lower bound of the ascending channel within which it was moving, which appears in the chart, thus the price confirms the new bearish path. Especially after moving below the EMA 50.
The current price action takes place between the support level 220.10 and the resistance level 223.10 over the intermediate period which will be the main targets of the price action.
The moving averages -50-20-7 are above the price near 221.80 and add pressure on the price for a further decline. .
The general direction of the movement: a bearish path
Sber Bank stock analysis Sberbank's stock breached the support level represented by the lower bound of the ascending channel within which it was moving, which appears in the chart, thus the price confirms the new bearish path. Especially after moving below the EMA 50.
The current price action takes place between the support level 220.10 and the resistance level 223.10 over the intermediate period which will be the main targets of the price action. The moving averages -50-20-7 are above the price near 221.80 and add pressure on the price for a further decline. .
The general direction of the movement: a bearish path