gorillacharts
Long

#UNICREDIT - NEXT EUROPEAN BANK WITH A BREAKOUT

CHXEUR:UCGM   UNICREDIT SPA
Unicredit is the next European Bank to stage an impressive base breakout. EU Banks are at a turning point, outperforming, and have a lot of catch-up to do. Technicals look great. Unicredit appears to move into a vacuum and I see immediate upside into 2.75/.77

I'm a chart analyst, not a fundamental analyst, but here are a few thoughts what could drive EU Banks outperformance. Fundamentals continue to look awful, however there are a few tailwinds from:
- bank CEO             acknowledging structural weaknesses (DBK CEO             y'day)
- serious consolidation talks
- FED rate hikes
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