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Athens Stocks A Tad Higher
Greek market is edging higher on Monday, showing signs of consolidation.
“We remain cautious on ATHEX’s short term trend, believing that volatility will persist. Should foreign markets be supportive, the reiteration of the upward movement witnessed last week, should not be ruled out. Banks should once again monopolize investors’ interest,” Marfin Analysis says in its morning report.
“Profit taking should be considered the main reason behind Friday΄s abrupt negative trading, which became stronger as we moved towards its conclusion. Considering that aggressive sales are most likely to have slightly cooled off, we expect the Athens market to trade in the same levels today, even provide investors with a mere ascending reaction. In this context, we expect the GI to open towards the 1,535 units (pivot point), possibly aiming for the 1,545 units (1st resistance level) later during the day. Concluding, we note that should pressure continue to be asserted on banking equities, driving the GI towards the 1,510 units, we would consider increasing our positions,” Pegasus Securities notes.
Across the board, the General Index gains 0.84% at 1,542.81 on a total turnover of 22.82 mil. euro.
(Capital.gr)
Greek market is edging higher on Monday, showing signs of consolidation.
“We remain cautious on ATHEX’s short term trend, believing that volatility will persist. Should foreign markets be supportive, the reiteration of the upward movement witnessed last week, should not be ruled out. Banks should once again monopolize investors’ interest,” Marfin Analysis says in its morning report.
“Profit taking should be considered the main reason behind Friday΄s abrupt negative trading, which became stronger as we moved towards its conclusion. Considering that aggressive sales are most likely to have slightly cooled off, we expect the Athens market to trade in the same levels today, even provide investors with a mere ascending reaction. In this context, we expect the GI to open towards the 1,535 units (pivot point), possibly aiming for the 1,545 units (1st resistance level) later during the day. Concluding, we note that should pressure continue to be asserted on banking equities, driving the GI towards the 1,510 units, we would consider increasing our positions,” Pegasus Securities notes.
Across the board, the General Index gains 0.84% at 1,542.81 on a total turnover of 22.82 mil. euro.
(Capital.gr)