Following our previous bullish analysis of the ATG, we find the index in the midst of rumors of impending mergers. The move from 580 looks impulsive, however we have to be cautious as the 4th wave (triangle) has ended as we break out on a final 5th wave. The entire upward move could be in danger of an abrupt end as this could very well be part of a larger upward correction.
For now we know for sure that our initial targets above 800 have been met. This is not an indication to go short, but and indication to raise stops. The possibility of this upward move continuing into a larger impulsive move and a longer term trend change are equally possible with the negative scenario. If you need help trading in the Athens stock exchange don't hesitate to contact me.
Disclosure: None of the information or opinions expressed in this blog constitutes a solicitation for the purchase or sale of any security or other instrument. Nothing in this article constitutes investment advice and any recommendations that may be contained herein have not been based upon a consideration of the investment objectives, financial situation or particular needs of any specific recipient. Any purchase or sale activity in any securities or other instrument should be based upon your own analysis and conclusions.
For now we know for sure that our initial targets above 800 have been met. This is not an indication to go short, but and indication to raise stops. The possibility of this upward move continuing into a larger impulsive move and a longer term trend change are equally possible with the negative scenario. If you need help trading in the Athens stock exchange don't hesitate to contact me.
Disclosure: None of the information or opinions expressed in this blog constitutes a solicitation for the purchase or sale of any security or other instrument. Nothing in this article constitutes investment advice and any recommendations that may be contained herein have not been based upon a consideration of the investment objectives, financial situation or particular needs of any specific recipient. Any purchase or sale activity in any securities or other instrument should be based upon your own analysis and conclusions.
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