AEROFLOT Stock Analysis 24.08.2020

There is nothing new in the movement of Aeroflot, as the stock tried to test the resistance level 86.50 at the end of last week's trading, but failed to breach this level. 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 is moving around the level of the moving average 507-20- which moves in one level at the level of 84.00 and forms the first support levels for the price and prevents it from falling further.

The stochastic oscillator gives a sign of a change in the path, thus it will try to pressure the price to return to the sideways track, after the support level 83.50 remained.

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