Long Eurobank
Diupdate
Approaching tomorrow's earnings report Eurobank has lost 25% in the last month. An earnings miss has been priced in and prior profits taken. Price is supported by a daily DeMark downside exhaustion, DeMark Trend Setup Support Line, and DeMark Risk Line. Additionally a diagonal trend line, which has been in play since 2016 and briefly broken at the end of 2017 but subsequently reconfirmed provides additional support.
RSI is turning oversold (29) Stoch & MACD look ready for an upside move.
FWB:EFGD is part of the ASE, Greece's slowly recovering stock Market which has formed a double bottom (2013,2016) and looks like it may be slowly recovering.
Entry: 0,73€ or when Stoch and Stoch RSI turn positive
Stop Loss 0,65€
Target: 1,05€
Time Horizon : 3Months
RSI is turning oversold (29) Stoch & MACD look ready for an upside move.
FWB:EFGD is part of the ASE, Greece's slowly recovering stock Market which has formed a double bottom (2013,2016) and looks like it may be slowly recovering.
Entry: 0,73€ or when Stoch and Stoch RSI turn positive
Stop Loss 0,65€
Target: 1,05€
Time Horizon : 3Months
Komentar
I expect Eurobank to consolidate here for a few days before continuing its next leg up. But then again the positive price action proved to be more aggressive than I thought it would be. I am expecting increased resistance at 1.015, that might be the ideal price to take profits.
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