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Watch out for getting into hype We can see the supports. CD projekt RED went insane with the last E3 conference with Keanu Reeves. Everyone is hyped on the Cyberpunk project. A lot of people wants to buy some stock of that company to earn a lot of money... but whales only wait for a moment like this. You also can see that on 4h and 1d charts we can see bullish trend bouncing of the red line... but the trend is losing a little its momentum as we can see on MACD chart. Maybe its only a correction ... BUT! BUT if we look at weekly chart we can see the Double Top with a little bulltrap on the second top... and looking on MACD it's very likely to go back to 162 Zlotys (trend support) or 123 Zlotys (second floor but for opposite trend if it's going to break 162 ZL, maybe its forming a bull flag?) To sum up... I'm watching this company for some time and it's very interesting to see what will happen. Will the hype push it to the new ATH or a lot of people will be eaten by whales? Let's wait and see.
GPW:CDR
by MateuszZakrzewski
2018 POLAND ECONOMIC GROWTH OFF TO STRONG START, EU GROWTH HELPSPLN has come under pressure after the National Bank of Poland reiterated its dovish stance at its policy meeting yesterday. Governor Glapinski suggested that the NBP may raise rates at the end of 2019 at the earliest, but current projections show no reason to raise rates before the end of 2020. This comes after the NBP revised its inflation forecasts marginally lower in 2018/19 while upgrading its GDP forecasts. Further dovish rhetoric suggesting rates on hold for a prolonged period of time, causing the market to price out hikes, could weigh on PLN from an interest rate differential perspective The NBP is likely to raise rates in 2019, AFTER the ECB. Nevertheless, the fundamental backdrop in Poland remains very strong, with solid growth and an improving external balance. Moreover, an improving Euro area backdrop should also benefit the zloty. We think such strong growth dynamics will ultimately support gradual PLN gains over the medium term. In addition, valuation looks attractive and the authorities continue to appear comfortable with zloty appreciation. In terms of risks, we acknowledge that we may see the zloty remain under pressure in the near term as rate expectations adjust. Credit to Morgan Stanley Research & Bloomberg wbj.pl
Short
by itzbert