ALPHA BANK is one of the top performers the last few weeks. From 0.42 euros to 1.80 euro in 3 weeks. The tremendous increase in volume, the break of all resistances and the extreme levels of pessimism for greek stocks make a powerful mix to push the price higher. From a technical point of view there is a change in trend for this stock. Buying at this levels is extremely risky, although I have a target around 3 euros in 4 months time.
Proposed strategy: Buying the dips from levels of around 1 euro. If the stock has made a short term top at 1.83 then I will wait to buy around 1.25 down to 0.90. The form of the decline (if there is one) will give us the possible retracement. There is also great possibility that the initial upward move is not finished. Updates regarding buying levels, stops and targets will be posted on twitter....so follow me @alexanderYf .
This looks like a good turnaround. Very interesting. I'm a contrarian myself and Greece that nobody likes and want to invest in right now might be a great opportunity!! Thanks for the info. I will contact you by mail.
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