NAG trade ideas
National Bank of Greece bullish above $3 on breakoutNational Bank of Greece SA engages in the provision of commercial banking services. It operates through the following segments: Retail Banking, Corporate & Investment Banking; Special Assets Unit; Global Markets & Asset Management; Insurance; International Banking Operations, and Other. The Retail Banking segment includes all individual customers, professionals, small and medium-sized companies. The Corporate and Investment Banking segment activities include lending to all large and medium-sized companies, shipping finance and investment banking activities. The Special Assets Unit segment manages delinquent, non performing and denounced loans to legal entities. The Global Markets and Asset Management segment involves all treasury activities, private banking, asset management, custody services, private equity and brokerage. The Insurance segment offers insurance products through its subsidiary company, Ethniki Hellenic General Insurance SA. The International Banking Operations segment include traditional commercial banking services, such as commercial and retail credit, trade financing, foreign exchange and taking of deposits. The Other segment includes proprietary real estate management, hotel, and warehousing business as well as unallocated and expense of the group and intersegment eliminations. The company was founded by George Stavros in 1841 and is headquartered in Athens, Greece.
Long NBGIFStory : National Bank of Greece announced a Q2 net loss a couple of days ago which sunk it's share price to an almost all time low - with not much downside left (technically), continued reduction of the bad loans in it's books and a perceived improvement in alignment of Greek policies to the EU expectations a bullish case is not hard to build. Furthermore, technicals confirm a good entry level for this trade.
Entry Price : USD 2.15
Stop Loss : USD 1.49 (-31%)
Take Profit : USD 3.5 (+0.62%)
Expected Duration : 1-3 months
