BCP (Commercial Bank of Portugal), way upYesterday morning, my indicators informed me that a very good trade was coming - buying shares of the Commercial Bank of Portugal. These indicators are framed in blue at the bottom of the chart. I placed a limit order to buy shares at a price of 0.2751. The market price at that moment was exactly the same. But I was unlucky. Due to a delay in data on my chart, the price was no longer relevant at that moment. That's why I didn't have time to buy this tool at that price. The stock took off in just a few minutes! In just 6 trading hours, the price rose by more than 5%. Today my indicator showed the beginning of a correction. It is outlined in brown in the upper right corner of the graph. The price began to decline. But my analysis shows that growth will continue soon. But to enter a long position, it is strongly recommended wait until appropriate signals from trading indicators is appeared.
BCP trade ideas
Go long on monday?EURONEXT:BCP
Looking at RSI, MACD and the 5 year price, it looks very interisting for a long position for a short/medium term trade. 0.25, 0.26€ price target seems realistic.
With all that is going on with more quantative easing, economy slow down, loads of titanic debt increasing and all the geopolitics that are going on, i really have a hard time going long for the long term on banks. Too much pressure on them.
But looks nice for a short trade.
A 300% return tradeBanco Commercial Portugues has a very clean "cup and handle pattern" over 420 days. The figure is supported by enormous exchange volumes. THis stock has all the characteristics of a rocket trade with more than 300% return possible. The only negative point is that the breakout event is not very market.