Sber Bank stock analysis

Sberbank's stock rebounded from the support 202.55 yesterday in an attempt to correct the bearish path after the stock opened trading last week with a large price gap where the price broke the lower bound of the ascending channel it was moving within and also managed to breach the support level 216.25

The price is moving below the moving averages that form resistance to the price and pressuring it to continue the downward path, although the price is moving away from the averages, so we could see a bullish correction to the 20 average at the resistance level of 216.34.

The current price action takes place between the support level 202.55 and the resistance level 2016.37 over the medium period which will be the main targets of the price action.

General direction of movement: Downward trajectory.