Why Greek Stock Market was a Good Investment in July

A month ago I posted my long term [intlink id=”281″ type=”post”]stock trading analysis[/intlink] on the Greek Stock Market and explained why it seemed like a good investment to buy Greek stocks. Today the Greek stock market’s index is 17% up since that day and if you had followed my investment advice to buy stocks, there have been Greek stocks which almost doubled their price! However, if you haven’t invested in the stock market in Greece yet, I suggest you wait for a retracement.

EUROB stock for example has been one of the best investments during July, as the stock price skyrocketed from €3.50 to €6.63, yesterday’s close. And we are talking about a well known Greek bank stock with sufficient liquidity to enter your orders.

ETE stock, which stands for the National Bank of Greece, has gained more than 30% in the last 20 days and the stock chart looks very promising.

On the other hand, there were not so popular stocks to buy, such as VELL stock that I bought at €0.85 and has reached €1.12 in one month. I have also discussed that investment of mine in Stoixima Online, although I write in Greek there.

My investment advice had been to buy stocks in the Greek Stock Market in July, since the effective risk was somewhat small, but the rewards could be huge. The stock prices have moved so much in favor of this advice, that I believe the Greek stock market has entered an uptrend indeed and it wasn’t just a sideways move. As the uptrend is more than obvious, my next investment advice in case you are interested into buying stocks in Greece, is to wait for the stock prices to retrace back to the slow moving average and buy stocks then. The least you can expect then is to take profits when the stock prices touch the previous high, if not reaching for even higher levels.

Note that buying at the current stock prices includes the risk, that you are buying stocks at the overbought level and you may be trapped if the uptrend loses speed and strength. Good timing and watching for entry signals would be the best investment strategy in the Greek stock market at the time.