Sber Bank stock analysis 18.11.2020

Sber bank's stock rebounded from the resistance 250.00 after reaching it yesterday in a correction to the strong bullish path that was formed after the stock managed to breach the upper bound of the descending channel it was moving within, after breaching several resistance levels.

The price is moving above the moving averages 50-20-7. Therefore, the price confirmed the upside path, and we await a re-test of the 250.00 level.

The current price action takes place between the 232.70 support and the 250.00 resistance level over the intermediate period which will be the primary targets of the price action.

General direction of movement: Bullish path