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National Bank of Greece SA Message Board

  • jeffreylhook jeffreylhook Apr 26, 2013 10:10 AM Flag

    Today's NYSE Trading: 4-26-13, Friday

    At 9:54 AM the price of the US ADRs (NBG) is pushing up against the bottom of the stock's declining 50-day simple moving average (SMA), at $0.98. What's the day's high? Funny you should ask. It's $0.98. What does this mean? Granted, this is only the start of the trading day, but the equivalence of the day's high and the current price indicated the price was still rising, pushing up, so to speak, against the bottom of that trend line. (Keep in mind that all technical comments are only metaphorical.) The 50-day SMA (aka the "50-day line," at least in my parlance) "crosses" today's trading range at &0.99. A few minutes after 9:54 AM EDT, the stock traded a little over the line, to $1.00,but it fell back. No surprise there; this showed the stock encountered resistance at the falling trend line. In a candlestick-format chart, this resulted in the depiction of this early phase of today's trading as an empty (rising) candle "body," with a short upper "wick." The upper "wick" (a single vertical line) shows the level of the intraday high. The top of the candle body shows the current price. ("Filled" candles indicate falling prices. Empty candles indicate rising prices. Candlestick format is exclusively intraday, with respect to the characterization of days as rising or falling: A day is a rising day if the current {or closing} price is above the opening price. A day is a falling day is the current {or closing} price is below the opening price. Mnemonic: think of empty {rising} candles as "balloons": they float. Think of filled {falling} candles as "lead weights": they sink.) Candlestick charts are monochromatic: they only use this empty/filled rule to differentiate between falling and rising days. HLC and OHLC charts characterize days as rising or falling based on their current {or closing} prices relative to the previous trading day's closing price. These formats often use black for rising days, and red for falling days. (character limit...)

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    • Jeffrey, hopefully you are happy last couple of days. Yes you are correct for the macroeconomics. I'd like to make you happier -- the short hold as of April 15 was about 1%. The accumulated volume since then is less than half of that. Thus, expect a strong short covering that might bring the share price above 2 - we need day or two more upward move to break their nerves. Keep fingers crossed.

      Sentiment: Hold

    • So funny that I JUST ADDRESSED THIS QUESTION BEFORE READING THIS POST...!
      Ah Jeffrey...mi simpatico!

      Sentiment: Strong Buy

      • 1 Reply to nick_the_bull
      • Look at today's one-day NBG intraday chart: It's flat as a table top, in a one-cent range, from $1.12 to $1.13 from 12:47 PM EDT until what looks like a one-cent jump on a volume spike at 1:51 PM EDT. Are these prolonged flat sections in one-cent ranges evidence of high-frequency trading? Do the "bots" kick in when any security's price attracts their attention by exhibiting certain characteristics? By 1:58 PM EDT the price had jumped the $1.13 line and the one-cent range was raised by a penny, to $1.13 to $1.14. The 21-minute/15-minute Slow Stochastic rose sharply from a low which it had hit at 1:50 PM (%K = 14.10 at the low, the top of the oversold level is 20.0). While the SS rose the price rose also; that's typical, for the short-term SS to be coincident or to lead a little. The MACD was flat, atop its zero line, until 1:50 PM. When volume spiked at 1:51 PM, the MACD turned up sharply. These details may augur well for the balance of the day.