Sber Bank stock analysis 03.02.2020

The Sber Bank share started to decline and corrected the bullish track, as the price managed to breach the first support level at the value 257.13 and head to the next level 249.07

The price remains above 250.00 level is a prerequisite for the continuation of the bullish price movement, while breaching this level will lead the price to decline and test the level of 242.75

The price action has become below the 20-20 Moving Averts that constitute resistance levels while the Moving Average 50 remains below the price and constitutes a positive pressure factor for it.

The stochastic oscillator has started to exit the oversold zone, but it is moving within a sideways path near this area, therefore the price will likely continue to drop to the support level of 250.00.

The general direction of the movement: bullish.