Greece [GREK]

It looks as if the crisis in Greece may be near its end. There is quite an interesting W pattern which formed over the last 2 months regarding GREK, the index fund that tracks Athens stock exchange. Without further ado, here’s the chart:

grek

We have broken through the resistance line, and are on the way to approximately 14.5$. This means that the stock has the potential to go upwards some 20-ish % in the next month or so. Not bad at all. I also believe it may give a boost to other southern EU indexes as the ones I’ve already mentioned earlier (EWI, EWP, PGAL).

Advertisements