Bulls in a glass shop

By Apostolos Manthos

In the recent period of time, the Greek stock exchange opened its arduous steps significantly, as it overcame significant price levels, which brought the general index to the starting point of 2014, that is, before the most serious economic downturn in the country began under the weight of the inexplicable experiences of the apprentice magicians from Left, which finally brought the most stressful third note to become corporate.

The gradual recovery of investor confidence, together with the broader positive trajectory of the Greek economy and the now stable political and economic environment, has led the general index to deliver an impressive performance in the last quarter, even exceeding +20%. An uphill path that shows that not only is it not over yet, but that it is now just beginning, as the prospects for a broad recovery in the Greek market are particularly high. Prospects such as investment grade recovery, a significant drop in the country’s risk premium to historical lows, a drop in the debt-to-GDP ratio at the end of the four years to 140%, a boom in large investment projects, a very positive Greek move in the salons of developed markets, even debt repayment Unexpectedly early. The picture is changing and rapidly changing for the better. After all, when a debtor comes along and pays off your loan early, it is showing the lender in question that they have now turned the page and are looking aggressively forward.

Turning now to last quarter, we’ll give credit to four mid-cap listed groups that impressed not only with their percentage gains, but also with their behavior across the board, with the strongest bullish trading volumes any investor could expect. And also selling without sitting for more than 5 minutes at the “station”. Four groups bear the continuation of a strong bullish trend in the medium to long term.

So we start with the stock “phenomenon” of the market, its group Interrates (INCAT). So here, in the last chart analysis, we had just spotted the stock breaking the first resistance move at €1.80 to the upside, gradually paving the way for the next logarithmic resistance level at €2.20. What is the gradual upward path? Here we are talking about a runaway sprint, the share price dragging its way not only the schematic barrier of €2.20, but also almost €2.70, which has been theoretically set in time for the first half of 2024. And the quarterly performance of the stock was +55%, with The rate of increase over the capital increase rate of €1.17 is close to the explosion rate of +124%, thus mercilessly reaching a capitalization of €400m. One thing is certain in all this bullish scenario built by the stock’s strong presence on the board: it has described its Vice President and Managing Director, Alexandros Exarchos, as one of the most powerful “bulls” of Greek stock trading.

another building set, afax, whose capitalization now exceeds 200 million euros. So here we can see on the bi-monthly chart that the stock has developed an upward velocity with a strong upward slope angle, which can make the stock within the fluctuation level from 1.47 to 1.70 EUR. The chart room the group has had to open up since the spring of 2010. Here are the written price levels the stock should theoretically see in 2024. This item, coupled with the fact that it brings two blocks of build to higher returns, shows the strong momentum that is developing in this sector.

The trajectory of her IT group is more than impressive profile account (PROF), with the stock’s quarterly performance stimulating investors, bringing in an incredible +62%. Graphically, the stock took the form of a bullish “rocket”, after the collapse of the long-term descending resistance line “S” at around €3.12. The resistances were at 3.75 and 4.30 EUR, but it turned to smoke and pulled away. Now the stock starts looking into the eyes of 5 euros, while, if it goes up and there is strong trading volume, the next chart area that will be opened to shareholders will be the edge of 7 euros.

When we wrote about the pharmaceutical industry Lavipharm (LAVI), at the beginning of the year, highlights the four main pillars of growth that will take off the group and the share, which at the time was receiving prices around 0.38 euros, and some predicted down waves and very low waterslides in the stock. The price, even setting a target of €0.30 and the possibility of its value depreciating later. Now that the stock has found a breath of €0.70, with a capitalization of €110m, they are left with an empty bucket, looking for “other shores”. I will repeat here again that the only listed pharmaceutical company will now have a potential “presence” on the Hellenic Stock Exchange.

* Apostolos Manthos is responsible for technical analysis and investment strategy

** Republished from Kefalio Newspaper