SBER Bank stock analysis 05.08.2020

Sber Bank stock continues moving within the ascending channel as it tries to test the resistance (229.33) as seen in the chart. After it broke the resistance 215.70 and confirmed its break.

The current price action is between the support level 202.23 and the resistance level 229.06 over the medium period.

While the main targets will be at the support level 185.80 and the resistance level 239.00.

The moving averages are below the price (50 near the support level 202.63 and the SMA 20 near the level of 215.70) and add pressure on the price for further upside.

General direction of movement: Bullish path