CHMF stock quotes are ending the trading week near the 1864 area. The paper continues to move within the correction and the ascending channel. The moving averages indicate a bullish trend for the company’s shares. Prices have broken through the area between the signal lines upwards, which indicates pressure from asset buyers and continued growth. As part of the Severstal exchange rate and cost forecast for the current trading week of April 22-26, 2024, we should expect an attempt to decline and test the support level near the 1805 area. From where we should consider a rebound and continued rise in the Severstal stock price with a target above the 2105 level.
Severstal shares forecast for April 22-26, 2024
A rebound from the bullish trend line on the relative strength indicator will act in favor of the rise in CHMF quotes. The second signal will be a rebound from the lower boundary of the ascending channel. The cancellation of the growth option for Severstal shares next trading week is a fall and a breakout of the 1675 level. This will indicate a breakout of the support area and a continuation of the fall to the area below the 1265 level. Confirmation of the rise in CHMF quotes should be expected with a breakout of the resistance area and closing above the 1935 level.
Thus, Severstal shares forecast for April 22-26, 2024 suggests an attempt to test the support area near the level of 1805. Further, the continuation of the growth of CHMF quotes with a target above the level of 2105. The cancellation of the option of increasing the price of Severstal shares will be a fall and a breakout of the level of 1675. This will indicate a breakout of the support area on the price chart. In this case, we should expect a continuation of the decline with a target below the level of 1265.
