GREK weekly - there will be a resolution soon - 10/5/2016The 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).
GREK trade ideas
GREK monthly - it has a turning look - 9/1/2016MACD 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.
GREK monthly - may be bottoming - 8/12/2016I 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.
GREK LONG TRADEThe price is going to break the reverse SHS formation and the resistance area could provide future support for further long positions. Anyway this is a good profit vs loss ratio to trade at the end of the week.
(D) Opa! Potential bottom since March. No rushing or chasing.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.
Not Much Optimism for Greece after the DealThe risk from Greece falling into a severe financial crisis and ultimate withdrawal from the Eurozone seemed to hold greater trouble for the country's partners and international markets than it did for Greece itself. After news of progress on a deal that may reach €86 Bln, the GREK ETF reflected little of the optimism expected. Meanwhile, Euro-area equity indexes advanced and dragged global shares with it.
Greece Contagion EffectWith Greek markets closed, we have had to look elsewhere to measure the expectations and fears surrounding the Euro-area's most prominent threat. Will we can look at equity activity in the region, that is more a measure of contagion fears - which kicks in as the severity of fear gets to certain high levels. The GREK Greece ETF is more timely and certainly a substitute favorite if volume is any indication.
Greece the Bitcoin Second Coming?I continue to watch for signs of correlation between Greek capital markets and the value (proxy for use) of Bitcoin. Back in 2013, Cypriot capital controls looked to significantly increase the adoption of the cryptocurrency as wealthy foreigners used new channels to repatriate their funds and avoid account lock up and potentially new taxes. Greece doesn't have nearly the same tax haven status as Cyprus did, but there is a lot of wealth in the country.
Greece and the EuroGreece's financial and economic ills are a definitive concern for the Euro area. It doesn't surprise that the region's ETF and equity benchmark impose an indelible mark on the performance of the regional currency. However, QE is starting to be seen as a silver lining to other equity indexes (DAX, CAC, IBEX). Will Greece find the same peace and further stabilize the Euro or is a crisis going to override the central bank's generosity?
Greece Price Action Looks like the Fundamental SituationThe FTSE Greece ETF (GREK) has turned to a clear range. The consolidation after the substantial decline is somewhat surprising and somewhat not. On the one hand, the situation is not being resolved. On the other, there has already been substantial depreciation against other Eurozone markets where QE has offered strong levitation. A range now looks like a price equivalent of the uncertainty as to whether negotiations go through (GREK rallies) or a crisis unfolds (drops).
Europe has a StragglerNo surprise that Greece is the worst performing of the major European regions in 2015. Not only does it have its ongoing economic, financing and political issues; but the 'life-giving' QE that has washed over the Eurozone doesn't easily filter into the country.
GREK update - stalled - 5/21/2015Cannot 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.
Potential double bottom in GREKWe have formed a double bottom, the second low undercut the first, and then we saw the "famous" follow through day (William O'Neil).
The first target is14 and the second is18
