On Friday, Severstal shares rose by 1.44% to 1,636 rubles. The trading volume amounted to 4.9 billion rubles. At the Monday morning session, the shares are up 1.3% to 1,657 rubles.

On Friday, Severstal shares held up better than the market, which was falling on the background of negative geopolitics, BCS Express writes. The paper was supported by the corporate background. The company reported for the fourth quarter and announced the highest quarterly dividend in its history.

Technically, it was noted that in the first half of the week the price tried to consolidate above 1670, but every time it rolled back from this level. There was a possibility of consolidation in the range of 1620-1670. In fact, it has expanded to 1600-1675, the short-term growing trend is the support below.

A long-term upward trend remains in Severstal shares. At the highs of 2021, the price noticeably broke away from its 200-day moving average and held above it until September, when there was a return to the summer lows, and subsequently a more serious pullback. As a result, a descending medium-term channel had been forming on the daily chart since May, from which it managed to get out only in February 2022.