Its time has come

Written by the Apostle Menthos

PPC stock entered the region of its highest levels in 9 years, achieving during yesterday’s meeting a trading volume of 628 thousand shares with a Vwap value of 11.07 euros and a transaction value of 6.95 million euros.

It is very interesting to continue the breakout action captured on the 2-day price chart above the upper limit of the recent price rise at EUR 10.88. If this division movement is confirmed in the upcoming matches, it will give the green light to record new heights, thus exceeding the previous levels that were recorded on July 24 at 11.22 euros. With the group’s capitalization now exceeding EUR 4.23 billion, the stock shows a readiness to enter in the medium term within the broad price zone marked in May 2008 between EUR 11.84 and EUR 12.90 or approximately +17% of current price levels.

Beware, after so many years, PPC stock presents a very aggressive long-term chart that could deliver big gains in the coming years. The last time it recorded a similar chart was in 2007 when it jumped from €9.60 to €17.38. In fact, as it gathered forces, the stock could have lasted all the way to €20 if the global crisis caused by the collapse of Lehman Brothers had not found it on the way higher.

On the two-day and short-term chart, the €11.20 area looks “insignificant”, but if we change the time frame to the four-month candles, we find the same area playing a very strategic role in the giant “cup and handle” pattern over the past 15 years. So exceeding this upward level could push the PPC to “other” price levels reaching figures even in the range of €15.50-17.50.

Of course, this formation is not for tomorrow, but rather for the long term and targets long-term investment portfolios, as the time frame of the vision extends over the next two years. The component of the realized volumes per EUR 1 of movement in the period 2002 – 2023 is also positive because it shows that the bullish wave from EUR 11 to EUR 15 may not ultimately encounter significant resistance since the dominant volume of buyers has taken a positive stance. Position at 7.80 to 8.00 euros and so far, despite the big rise, it remains closed in its positions. That is, he goes to see the entire work of the Ascension.

PPC, which amends its articles of association and is now transforming from a broader public sector company into a private sector company, operates in addition to energy in technology equipment, financial or investment services companies, communications and information technology services, and public-private partnerships, while it can participate in any percentage of the capital of existing companies. Or the institution and its lending. He is usually prepared to play a dominant role in the “cheerleader” of activities capable of inflaming and raising expectations for the group.

From the looks of it we will have a lot to hear at PPC’s Capital Markets Day on 23 January in London with the presentation of its new updated business plan and its recent strategic investment moves such as the completion of the acquisitions of ENEL Romania and Cotsovolos. However, the market is expected to react immediately to any profitable plan for the group.

And let’s not forget also that PPC is among the top ten most capitalized listed companies that will catch the first glimpse of huge foreign investment portfolios when the Greek Stock Exchange enters the halls of developed markets for good.

* Apostolos Manthos is responsible for technical analysis and investment strategy