“bearish”? What is this;

By Apostolos Manthos

After the prime minister announced the date for the national elections on May 21, the countdown has officially begun. However, for the most active investors, institutional and non-institutional, on the Athens Stock Exchange, the analogy is a bit reminiscent of a fidget spinner with an impatient rollout until the day of “Apoleli.” So, on the day the article was written, Thursday morning, there were 31 meetings and today until the signal comes from the GES. However, the factor of uncertainty about who will be the government that will take over the reins of the country, since the first of March began to shape the strategic tactics in the investment portfolios, even causing unorganized liquidations in an attempt to immediately reduce the risk. Under this restructuring exercise, the general index lost as much as -12.5% ​​from its highs on the first day of March, touching the psychological mark of 1000 points, with most stocks moving to the short-term in-depth technical analysis slogan in the “bearish” mode, which It emphasizes a bearish outlook on the future. But in this lackluster investment climate, there are also some stocks that don’t even know what “bearish” means, brazenly taking the forbidden upward path against the bearish logic of the general market trend. Contributors such as PPA, Ideal Holdings, Aegean Group, Motodynamics, OPAP, Autohellas, Mytileneos, Jumbo, TERNA Energy and the historic Karelia tobacco factory, founded in 1888 in Kalamata. In the present schematic analysis we will deal with the first four companies listed.

So I’ll start with it Perfect holdings (ΙΝΤΕΚ), which was captured on the 2-week price chart to cross strongly above the €4 resistance level, thus opening a communication channel with the next resistance area at €4.75. And the price of 4.23 euros, which the stock wrote in the last few days, is a new high in 15 years, although there is practically no comparison between the current group and the company that was at Christmas 2007. It should be emphasized that Ideal management recently reported that if the Taking average EV/EBITDA ratios for other companies in the technology and industrial sectors together with their own financial performance, they estimate – based on March 2023 data – net asset value (NAV) per share at €5.6 or +35% from current price levels.

The highest financial performance in its history Piraeus Port Authority (PAA) They justifiably don’t allow the stock to sympathize with the general climate of uncertainty, but rather push it above the strong resistance of the €18.60 chart area. It is mentioned that the PPA closed the year 2022 with a significant increase of + 26.2% in sales compared to 2021, to reach 194.6 million euros, from 154.2 million euros, with profits after taxes reaching 52.9 million euros, up 43.9% compared to 36.8 million euros in Public Finance. 2021. In fact, the proposed dividend per share amounted to 1.04 euros, an increase of 65% compared to 2021, which was 0.63 euros. Going back to the 2-day price chart, the stock seems to be gathering bullish forces to move towards the resistance area from €19.80 to €20.25.

With the propulsion engines for the next powerful tourism wave in 2023, the Aegean Group (AREAG) It does not have any specific reason for a downward return in the medium-term planning plan, since the share price, in addition to all other positive elements, “owes” the bullish points from 2019. Here we see that the stock has built the first point of the buyers base at the level of 7 to 6.85 euros And it is preparing to make a new upward movement towards the resistance area from 7.60 to 7.80 euros. An upward breach above would put the group’s share price with 8 forward. I have provided the group’s financial numbers in previous analyzes and will present them in more detail in our first quarter 2023 announcement.

Close with her kinematics (moto), which in its annual financial results for the year 2022 presented impressive profitability in almost all activities. The year ended with a significant increase in sales by 39.4% compared to 2021, with a sales value of 132 million euros, while profits before taxes doubled to 14.23 million euros, an increase of 130.6% compared to 6.175 million euros in 2021. The brilliance of the Sixt sector , as its revenues reached 43.4 million euros, an increase of 85.2% compared to 2021. And the stock shows, graphically, that it is flirting with the resistance area of ​​3.02 euros. An upward escape from the mentioned resistance will give the medium-term target at €3.70.

* Apostolos Manthos is responsible for technical analysis and investment strategy

** Republished from Kefalio Newspaper