Rosneft stock quotes continue to move within the growth and have left the bearish channel. At the time of the forecast publication, the ROSN stock price is 585. The moving averages indicate a bullish trend. Prices have bounced off the area between the signal lines upwards, which indicates pressure from stock buyers and potential continued growth. At the moment, we should expect an attempt to develop a bearish correction and a test of the support level near the 565 area. From where we should expect an upward rebound and continued growth in the Rosneft price with a target above the 640 level.
Rosneft shares forecast 22 – 26 April 2024
A strong signal in favor of the rise in ROSN quotes will be a test of the support line on the relative strength indicator. The second signal will be a rebound from the upper boundary of the bearish channel. The cancellation of the growth option for Rosneft shares will be a fall and a breakout of 545. This will indicate a breakout of the support area and a continuation of the decline to the area below level 505. It is worth expecting confirmation of the rise in ROSN quotes with a breakout of the resistance area and closing above level 600.
Thus, Rosneft shares forecast for April 22-26, 2024 suggests an attempt to test the support area near the level of 565. Further, the continuation of the rise in ROSN quotes with a target above the level of 640. The cancellation of the growth option for Rosneft shares will be a fall and a breakout of the level of 545. This will indicate a breakout of the support area. In this case, we should expect a continuation of the decline to the level of 505.
