Greece recovery etfAs you can see, there is huge bullish reversal in this etf in monthly timeframe, therefore, this trade worth risk money for long term holding.
GREK trade ideas
GREECE ETF MSCI: More pain aheadExpect price to move lower.
As to Greece's economy, after the bankruptcy of 2010 and the many years of austerity, Greece was presenting clear improvement in its macroeconomic figures since 2018. Unfortunately the Covid-19 crisis has the potential to turn to a Mega Crisis and therefore this year and next year could be very difficult. As for the chart of the specific ETF (GREK) we are starting to enter into the next wave down (5) which could bring prices substantially lower.
Strategy
Short term: Short
Long term: Short
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GREK LONG Ride The High!Greece is riding on a new Political Party Upswing. GREK is the only ETF from Greece trading in the US and is 2019's Star among Europe's ETF's. GREK is going long for a good while, ride the high!
Gain on GREK's uptrendSince 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.
GREK - monthly - all looks goodPrice target $12, but wait for short term pullback to $8.5 before getting in.
GREK: Greece ETF, potential for +20% profit.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 puts the upside target at 11.45.
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GREK Wave 2 of Intermediate Cycle is currently on 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 that a pro-investment party (NeaDemokratia) is a clear leader in the polls.
Feel free to comment and add your own thoughts.
GREK monthly - maybe on another leg upTechnical looks good. Intend to add to position if closing above A.
GREK monthly - looks better and betterGREK has been consolidating for more than a year since Feb 2016 low and is most likely building a base. IMO, it is a buy once closing above $8.41 (May 2016 high).
GREK- - BEARISH BAT SETUPENTRY SHORT 8.64
STOP LOSS 9.21
TAKE PROFIT (1/2 POSITION) 7.86
TAKE PROFIT (REST) 7.36
GREK LONG/SHORT PLAYGet ready ladies and gentlemen, this bad boy is almost at its support, get in set a stop loss just beneath its support line and, it should bounce off, or if it does break the support line, it would head towards the second support line, so it would be a good short opportunity. The open interest for jan 20 calls on this b*tch also looks hella dope. So a rebound on resistance looks more reasonable.
GREK LONG ON THIS BAD BOYGet ready ladies and gentlemen, this bad boy is almost at its support, get in set a stop loss just beneath its support line and, it should bounce off. The open interest for jan 20s on this b*tch also looks hella dope. Lets make some f*ucking money :) (can you swear on this site? I dont really want to censor myself) anyways have a great day fellow traders!
GREK weekly - base has been built - 1/4/2017It has been building a solid base... Buy breakout at about $8.50, with stop at about $7.50
