HARJU ELEKTER (HAE1T) | Buy when there's blood in the streets II


After launching its activities in 1968, Harju Elekter Group has developed into a leading producer of MV/LV electrical and engineering devices in the Baltic countries and a well-known and respected manufacturer in Scandinavia. Harju Elekter’s main field of business is the development, manufacturing and sale of equipment necessary for the distribution and transmission of electric energy. The main business is supported by a sheet metal plant in Estonia and the development and leasing of industrial real estate.

I got a lot of questions from my Estonian followers: "What do you think about Baltic stocks?". In the next following posts, I would like to point out a few stocks from Nasdaq Baltic.

Harju Eleter has been on my watchlist for a while and now the overall panic has dragged the price almost to my prepared area.

"Buy when there's blood in the streets, even if the blood is your own." - technical analysis is perfect for that kind of market situation. Technical analysis gives you just a little bit more a sense of security: you had a plan, you have waited for some certain price levels, you see a long-term perspective and you have done everything correctly to buy it. - and after that, your decision is on the hands of the market.

Technical analysis criteria are pointed 2.95 - 3.45:
1) The clean yearly resistance level from 2011 becomes the support level.
2) Perfect trendline
3) Fibonacci retracement 62%
4) Fibo Extensions
5) "50% club"

As said, do your own fundamental research and if this matching with my technical analysis viewpoints then you are ready to go! If it doesn't match then...skip it!!

Good luck,


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