It is undervalued. No doubt about it.
But for a reason. Which is the shame of the BOD of ING.
This bank has the worst executive management anybody can find among the top 50 banks of this planet.
And the BOD did nothing, since at least 5 years, when the incompetence came to light for everybody to see. It is clear as the sun.
No, never, no one single BOD member ever questioned: Why is ING performing THAT bad,
compared to peer banks? Never asked himself: Is anything here I can do about?
That is the problem. Corrupt=BOD. Means the Dutch way.
Our system posted a BUY CONFIRMED today. The previous SELL recommendation was issued on 04.19.2012 (33) days ago, when the stock price was 7.2000. Since then ING has fallen -14.31% .
BUY-IF is confirmed by a white candlestick with a higher open. The buying price is today's open ( 6.1400 ) according to the Rules of Confirmation.
The recent bullish formation leading to the BUY-IF signal is confirmed today. The market is ready for a new bullish move. It opened today with a gap-up and the day’s activity resulted in a close higher than the open. This is one of our valid confirmation criteria.
We hope that you bought this stock. You should watch the upward gap in the opening, wait a bit, feel the bullish tendency of the market making sure that prices stay over the opening price and then go long. Your benchmark was the opening price of the upward gap.
If you bought, continue to hold this stock until the confirmation of the next SELL-IF signal. You are on safe grounds as long as the future prices continue to trade above the benchmark price. What to do if you did not buy? Maybe, you did not have time to follow the session or you simply delegated the delicate job of confirmation to us. Well it is a bit late, but not too late. You may still find suitable prices for buying in the following sessions.
The market is currently cold for short-sellers. Avoid any short sales and cover the short positions immediately if there are any.