Aeroflot stock analysis

Aeroflot Russian stock continues to decline after it failed to stabilize above the resistance level 86.50, to bounce back down below the mentioned resistance. The stock returned to the sideways movement it was trading in during the past two weeks, as it tested the key support level of 78.50, which is considered one of the important levels that the price is exposed to.

The price moves around the level of the 50-20 moving averages, which form the first support levels for the price and prevent it from falling further.

The stochastic oscillator gives a sign of a bullish movement after it exited the oversold area, thus it will try to pressure the price to return to the sideways path, on condition of re-breaching the support level 86.50.

The stock can be bought with a retest of the support level 86.50, and targets will be 94.90-101.20 and a stop loss below 82.70