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About the Company
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Analysis |
 Return Analysis
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Russian Stock Market Summary for January 9th - 11th, 20008.
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The RTS Index closed at the end of the year at 2,290 points, which is slightly higher than the 38% correction from the trend of 2,128 -2,360 points. In January the Index again exceeded the level of 2,300 points and started a gradual growth. The nearest goals are 2,370 and 2,420 points.
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Gazpromneft stocks tested the last year’s high of 162 rubles and fell in price sharply after that to 151 rubles. i.e. the decline was over 5%.
These stocks looked overheated in December and now the return to the rising trading range can be expected. The support levels are 150, 145 and 141 rubles, the resistance level is162 rubles. The wave cycle which began last August seems completed.
Gazprom stocks have confidently broken through the two-year-old highs and were traded over 360 rubles. The nearest goal is 374 rubles. The purchases may start higher, which is connected with profit taking and closeness of the psychological level of 400 rubles. The support is at 340 rubles.
Rostelecom finally broke through 300 rubles and after a small correction to 284 rubles, purchases will start again. However, the double peak and the fact that the stocks increased in price almost a quarter within a month may chill the bulls enthusiasm. The resistance is at 314 rubles, the support is at 275 rubles.
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