What I Learned This Week

Three reasons Greek stocks are poised to break out of their resistance area.

First, the new administration’s economic reforms are designed to attract greater foreign investment and reverse the brain drain. Second, reform of Greece’s toxic loan problems could raise confidence in its banking sector. Third, the global rebalancing toward lagging small-cap and value-oriented stocks and markets appears to be gaining steam, and Greece fits both categories. The Greece (Athens) General Index appears ready to break out of the right side of an inverse-head-and-shoulders pattern, and the combination of the aforementioned factors could provide the necessary catalyst to push the index over the line. If it does, and the new administration of Prime Minister Mitsotakis is successful…

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