As noted by the certified technical analyst, Mr. Petros Steriotis, the General Index has been in a flat phase for 8 consecutive sessions, “”locked” within a narrow price zone. And the 1,450 level creates an uncomfortable resistance which for the time being “closes the door” to the multi-year high of 1,500+. In the longer term, the GD has completed 7 months in an essentially horizontal chart range “digesting”, we would say, the excess gains of the last 4 years.”
“At the individual stock level, while some remain at multi-year highs, others have lost ground recently, with what this suggests about portfolio preferences and the next big move in these two ‘share classes’,” he notes, adding: “In the short term, we expect the immediate moves of Institutional due to the MSCI rebalancing but also some more ‘turnover recycling’ and tight rotation until the month is ‘out’.”
Πέτρος Στεριώτης (Χρηματιστής) Petros Steriotis 