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.
Price target $12, but wait for short term pullback to $8.5 before getting in.
GREK has broken upwards in late May following a Golden Cross formation in late April. The last 3 times a Golden Cross took place the ETF rose (on the cross date) by +8.40% once and roughly over +30% twice. Currently it is already up by +8.40% from the Golden Cross occurrence so if it starts breaking higher, we have a confirmation for an additional +20% rise, which...
Wave 2 of 5 is currently unfolding with a target in the 7.85 resistance area box. It is likely to last for another 2 months until it's termination. If that scenario holds, a long wave 3 it is likely to unfold and give a good chance for a bull market to last for several months. Wave 3 can start unfolding before next year's elections which is an extra boost given...