Surgutneftegaz, JSC – purchase for the purpose of 30 rubles (+8.7%)
The profit of Surgutneftegaz according to RAS for 9 months turned out to be better than the forecast.
Surgutneftegaz's net profit according to Russian standards (RAS) for 9 months of 2023 amounted to 1.436 trillion rubles, the company said.
Surgutneftegaz continues to demonstrate strong financial performance, which indicates the sustainability of the company's business model in the face of sanctions.
TAKE PROFIT
The company's shares look oversold in a short time frame. The company's shares have rebounded from the support level of 27 rubles for the second time and form a "double bottom" figure.
At the level of 30 rubles, the resistance and downtrend lines converge, which is an "attraction" for the price within the rebound.
We believe that we should expect the company's shares to move to the level of 30 rubles (+8.7% of the current price of 27.6 rubles).
STOP LOSS
Do not forget about risk management and portfolio diversification. It is recommended to buy a share for no more than 8% of the capital, since the company is quite closed and has a low dividend yield (2-3%).
A stop order can be placed below the support of 27 rubles, at a price of 26.5 rubles (-4% of the current price of 27.6 rubles). If the price is fixed below 26.5 rubles, i.e. it breaks through the level down, then the growth forecast of the paper is canceled.
Disclamer. The analytics presented here are designed for people who have at least a basic understanding of the Russian financial market. If you have difficulties with the practical implementation of our recommendations, you can use the services of our specialists with the Portfolio Consultant package at the link: https://eraperemen.info/priobresti/
