The tragic accident at Tempe which took the lives of many young men in the prime of their lives and the complete and utter destruction of their families by pathetic human error in the age of advanced technology, autopilot and space travel, never left me, under the burden of mental indignation, to easily pick up a pen and write a technical article.
It is much easier to write an anathema to all those who took children forever from the arms of mother and father, to those who, without any right, cut from boys and fairies the thread of joy of life which was now about to begin. For all those who have not understood for years now that all adults must work day and night to try to leave a better legacy to the new generation than the one we received and not do the opposite by caring for our Tom and erasing the future from our children.
The knife of incompetence is so great that it will not bring society’s reaction of indignation to the door of the political system, in fact, at a period when it can very soon throw its reaction into the ballot box.
This particular item will need special investigation in the mainly short-term investment scenario of the Athens Stock Exchange, since a large part of the rally has been made on some assumptions about political fundamentals that may not be so strong.
Moving on to stock market trivia, one of the things most sensitive to political shortwaves is a Purchasing Power (PPC) stock. Bad, of course, but the “Pharaonic” statements of the opposition leave no room for you to sanctify your investments.
So graphically the stake has realized since mid-September an increase of up to +70%, reaching a capitalization of more than €3.1 billion. The price entered the required resistance area from 8.20 to 8.40 euros, trying to overcome it in order to move with claims towards the desired area of 9 euros, where the huge capital increase of 1.35 billion euros took place.
Let me even remind you that the book of offers for the PPC stake at €9 has raised an unimaginable amount of €4 billion, with the distributable amount (excluding amounts covered by Superfund, CVC and EBRD) exceeded five times.
So within this area, the stock seems to have found it dark at the moment, even forming on the price chart every two weeks, a very dangerous “Gravestone Doji” formation which, if confirmed in the following sessions, could blow the bullish end whistle and in The same time that the short-term bearish wave begins. But the bad thing here is the graphic element that the stock doesn’t have any major support beyond that at €7.20 or almost a euro lower than current prices.
Of course, PPC moves at the business level, such as the potential acquisition of ENEL Romania that will make it a big step forward in green energy, will not allow the share price to slide downward, but as mentioned, with the explosive political landscape expected to set in, Especially after the fatal accident, anything can be possible.
Despite this, in the short term, technical momentum indicators are persistently asking for de-escalation, as the stock’s five-month upward movement has opened the bar for an “overbought” condition.
* Apostolos Manthos is responsible for technical analysis and investment strategy
“Avid problem solver. Extreme social media junkie. Beer buff. Coffee guru. Internet geek. Travel ninja.”
Watch how Erdogan’s car was made – great video
I went for coffee and turned over a brand new car
the. Stephanis in Liberalism: Those who want open borders open the door to chaos