5 Stocks Under $10 Set to Soar
BY Roberto PedoneFollow| 07/24/14 - 02:55 PM EDT
National Bank of Greece SA
One final under-$10 banking player that looks ready to trigger a big breakout trade is National Bank of Greece (NBG_), which offers diversified financial services primarily in Greece. This stock has been rocked hard by the sellers so far in 2014, with shares down sharply by 38%.
If you take a glance at the chart for National Bank of Greece SA, you'll notice that this stock has been downtrending badly for the last two months, with shares moving lower from its high of $4.16 to its recent low of $3.25 a share. During that downtrend, shares of NBG have been consistently making lower highs and lower lows, which is bearish technical price action. That said, shares of NBG have now formed a possible double bottom chart pattern at $3.29 to $3.25 a share. This stock is starting to rebound higher off those support levels and it's quickly moving within range of triggering a big breakout trade.
Read More: 3 Stocks Under $10 to Trade for Breakouts
Traders should now look for long-biased trades in NBG if it manages to break out above its 50-day moving average of $3.56 a share with high volume. Look for a sustained move or close above that level with volume that registers near or above its three-month average action 5.86 million shares. If that breakout materializes soon, then NBG will set up re-test or possibly take out its next major overhead resistance levels at $3.90 to $3.97 a share, or even $4.16 to $4.50 a share.
Traders can look to buy NBG off weakness to anticipate that breakout and simply use a stop that sits just below some key near-term support at $3.25 a share. One can also buy NBG off strength once it starts to take out $3.56 a share with volume and then simply use a stop that sits a comfortable percentage from your entry point.
(see yahoo for full report)
despite being nearly worthless I continue to hold my many shares. May be one day THRR owner will show some mercy and some courage and revive one of his many unfulfilled promises and get this company back on the map. I am not holding my breath but you never know...
Shabamoon, I agree, as markets always do, it will soon fill the gaps to 5.70; My question is it took about 6 weeks to create those gaps while going from 5.70 in April to lows of May; do you think it will take about the same few weeks to fill those gaps or longer. If it takes roughly the same amount of time we should be back above 5.70 around mid-July. What do you think?
won't you take your FV and stick it up yours; You are indeed the stupidest jackazz to ever show up on any MB. People like you need to hung from their tailbone for being such #$%$. You insult anyone and everyone on this MB for any number of reasons and content. Certainly there is something profound wrong with you psychologically either because of previous heavy losses, being abused as a child, or even worse thing which I don't want to mention.
NBG is the bargain of the year right now
Great sign. We be up to races pretty soon. Put your seat belts on because this thing is ready for major take off. $20 or more by end of the year possible. Just look at a year ago when it flew to 24 from under 3 in a matter of days.
Sentiment: Strong Buy
I think this is the first time in a very long while that you have finally come in favor of buying NBG shares be it a trade or hold for just a few month. Even so i admire your timing; i wished i had been more patience like you but for now i an a bagholder and this needs to nearly double for me just to break even.
I am a democrat and consider myself pretty liberal in many ways but i always thought something was definitely
unhealthy and un-natural about homosexuality; i wished a braver liberal than myself would respond to all 1 thru 7 items you mention without summarily denouncing them.
seen it happen many times before.
Markets can be real funny.
Listen idiot; Oversubscribed more than one times means there were over 100% more demand. Also that was just for a single day and today was not included and at that rate the demand should be 200-300% more than offering.
Many of you shorts were initially claiming that there would be no demand at all and the offering will fail. But now that it has not only not failed but the demand is much more than offering you are now singing a different tune. Won't you shut up and crawl into you miserable manipulative hole.
sounds as though you don't have much regards for Maria and Brenda's intelligence; Is that because the are women? You chauvinist #$%$ dumazzz.
You mean to tell me that this bozo red-tsar convinced you to sell NBG, the largest and the oldest bank in Greece since 1840 which is also their NATIONAL bank, for egfey, a penny stock that despite being a penny stock on its best day had an anemic volume of only 2 million in the face of 11 BILLION shares outstanding? Selling NBG yesterday was a big mistake but at least try to get back in before May 10 since as you know once that day is come and gone NBG will be going back up as it has much catching up to do.