The Russian market, represented by the ruble index, set a new record last week (3688.81 points), continuing its rise.
In the first ten days of March, after he managed to break through the zone of 3510.77-3520.66 points upward, I spoke about the potential of the move to 3730-3740 points within the framework of the realization of the height of the consolidation knocked out upward. This goal is now again relevant, since despite a deeper than expected rollback (locally, the index sank to 3435 points), the frame is growing since November 30, 20. the trend is still saved.
The last rollback, on April 30, again confirmed the stability of this upward trend, which leaves the index striving to establish new highs. Continuous growth has been going on for 4 consecutive sessions, the level of 3628 points can be designated as the nearest support – the peak zone from April 27, followed by the zone 3602-3605 points – the area of peaks on March 16 and April 19.
In addition, according to analysts at Goldman Sachs, the Russian Federation may be among the leading beneficiaries of post-pandemic recovery, due to a more active rate of vaccination than in the EU countries. This, in turn, could spur demand for Russian oil and attract investors looking for cheap assets.
Nevertheless, near historical highs, purchases are seen as risky and I would have waited for at least some logical unloading.
Considering that I had a break in trading for more than a month, I will not rush to enter the market at the current levels. Of course, there are securities that can be bought directly from here, but at the same time, it is no longer advisable to buy such shares as Sberbank and MMC on highs. Therefore, a balanced approach and the ability to wait for comfortable entry points is the key to successful trades. For 15 years of trading on the market, I have understood a simple truth: the market will be there tomorrow, so there is no rush.
PS You can congratulate me, an important event happened in our family – I became a mother for the second time. My daughter was born on April 25 :)))