Trading ideas for PJSC Gazprom 11.03.2020

The overall trend in global markets is downward. The first factor is the coronavirus, the second is the inability or unwillingness to negotiate a reduction in oil production, which led to a strong decline in oil prices. At the same time, all markets are falling regardless of the businesses’ influence on the oil prices. The main source of income of Gazprom is the sale of gas, while now the company's stock is trading at the level of May 2019.

Trading recommendations:

Buy above 185.83.

Stop loss:  165.00.

Target levels: 200.00; 211.42; 221.50.