Wednesday, 1 August 2012

Last chance for Greek stocks!!!

 Greece has been in the spotlight in recent months for all the negative reasons surrounding the european debt crisis. Greek stocks have plummeted during the past 3 years and prices have dropped to all time low levels for most stocks. So what now with the stocks? They will move even lower or sky rocket if a solution is found for european debt crisis.

From an elliott wave perspective the Athens General Index could have finished its corrective decline. If our wave count is correct, the market is expected to make a big upward move. This could be part of a bigger correction or even better the start of a new uptrend.

 Both Alpha Bank and National Bank of Greece show ealry signs that an upward movement might be close. The strength and size of this move could determine the future course of prices. A trend change or a larger degree correction?

What is important now for traders is the possibility for this market to outperform and even give more than 100% profits. Prices are some much pressured like a metal spring that will burst upwards when pressure is lifted. Stop levels are very close and potential targets are very high. So why not take a chance following a prudent strategy in order to enter this market?

If you want more info on how to trade in greek stocks and what strategy to follow don't hesitate to mail me. Thank you for taking the time to read my thoughts.

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