Want to be part of InvestingHaven's research team? Do you have a specific expertise that you can add to our team? Contact us to discuss. >>

Greek National Bank Stock Consolidating Before It Goes Up And Away

This is a short update on the Greek National Bank, a stock we discussed several times this year.

Of course that is all based on the extreme collapse of the Greek economy, and the assumption that the European Union will want to help the Greeks to overcome their crash. Given the extreme collapse it does not take much for leading Greek stocks to double or triple in the medium term, and become tenbaggers on the long run.

The Greek National Bank broke out this summer once it crossed 0.37 USD (NBGGY on the OTC market). After a strong rise, it came back to test its January 2017 highs at 0.30 USD. So far, that support level has held.

The key level to watch is, according to us, still 0.37 USD. We consider that the breakout point. As soon as the first signs of a recovery in the Greek economy kick in we should easily see the Greek National Bank move to 1 to 2 USD, presumably towards 2020. For now, we expect a continuation of the current consolidation shown on the chart.

This is a long term play, holdings can be accumulated by investors.

InvestingHaven is the first in the world to offer a Blockchain Stock Investing Research Service which features all blockchain stocks with our proprietary score. Get access now >>
A MUST READ for 2018: China’s Stock Market Bullish. 7 High Quality Stock Tips For Long Term Portfolios. Featuring 7 China stocks >>
Follow official Ethereum prices in real-time. Read daily Ethereum price news on www.ethereumprice.today  >>
 
Share This