The structure seems to be fully formed and starting to roll over after breaking a year-long bull run. Given the current state of the EU it is very plausible that we can see a longer-term trend lower. Caution is in order.
Since the last few months, powered by the new elected government in Greece, GREK has been recovering. This recovery has to do with greater expectations investors have from the new government. GREK shows a clearly established upternd. A reasonable strategy would be to wait until the current swing is over, reaching the support and then to follow the uptrend.
Technical looks good. Intend to add to position if closing above A.
GREK has been consolidating for more than a year since Feb 2016 low and is most likely building a base. IMO, it is a buy once closing above $8.41 (May 2016 high).
ENTRY SHORT 8.64 STOP LOSS 9.21 TAKE PROFIT (1/2 POSITION) 7.86 TAKE PROFIT (REST) 7.36
Get ready ladies and gentlemen, this bad boy is almost at its support, get in set a stop loss just beneath its support line and, it should bounce off, or if it does break the support line, it would head towards the second support line, so it would be a good short opportunity. The open interest for jan 20 calls on this b*tch also looks hella dope. So a rebound on...
Get ready ladies and gentlemen, this bad boy is almost at its support, get in set a stop loss just beneath its support line and, it should bounce off. The open interest for jan 20s on this b*tch also looks hella dope. Lets make some f*ucking money :) (can you swear on this site? I dont really want to censor myself) anyways have a great day fellow traders!
It has been building a solid base... Buy breakout at about $8.50, with stop at about $7.50
November is ending and GREK is able to meaningfully close above 10 month MA the very first time since mid 2014. It made a higher low last month, and its trading volume began to pick up. MACD is positive. RSI still needs improvement (like to see it goes above 45). Also want to see it making a higher high (close above $8.41 monthly). For risk takers, now might be a...
The triangle is exhausting with a bias to the up side. Buy breakout if materialized with a stop around $7, and potential gain can be ~ 20 % (targeting $9).
MACD is now positive. RSI is flat, we want to see it go above 40. Price is still below 10 month MA but the higher low appears to be holding. Probably a buy around $8.50 ~ $9. Patient.
I want to see price to go above 10 MMA and the red resistance and make a higher high. But looks like that will be something in 2017. May never happen. Who knows but we will see.
Stalk instead. Volume and price are healthier, but it will take Greece et al some time to recovery from its financial predicament. Price will retest EMA50, so will reevaluate then. Obey your rules.
buy breakout on weekly close, if ever.
Cannot go above the pink line for 3 weeks. Given this and RSI resistance, a pullback is very likely. So, either buy breakout, if that happens; or buy bounce on pullback. Note the 10 MA is pointing up now, RSI and MACD are healthy.
RSI and MACD look good now, price is still weak - want to see it to go above 10 MA and blue line. Guess it still needs several months before the bottom is solid. Will track it.
Idea about what's going on with GREK. It obviusly went down because of the head and shoulders but will it bounce back to ATH levels or dump with Europe crash in some months?