Today, trading on the Russian market is in the green zone. Positive dynamic on external sites and the growth of oil quotations stimulate interest in domestic assets, among which the shares of Novatek (LON:NVTKq) are particularly attractive now.
Despite today's correction, growth is likely to continue in the coming days. Last week, Novatek shares resumed growth after checking the upper boundary of the side corridor, where the share had been from the beginning of autumn.
The area of $11,60-$11,69 is now a good support. In my opinion, now everything speaks in favour of buyers, as in general, the growing medium-term trend remains relevant. The purpose of this wave of growth is resistance $11.91 or $12.03-$12.11.
The downtrend scenario for Novatek has definitely ended. According to the long-term picture, already in the 1st and 2nd quarter of the next year, quotations may also go to historical highs, where i expect quotations in the area of $12.80-$12.97.