Bursa: SIF Moldova (SIF2) Chart review

marți, 31 ianuarie 2012

SIF Moldova (SIF2) Chart review

SIF Moldova finished the 2011 with a huge profit of 191 Mil RON, buoyed by the selling of their participation at the BCR (Romania Commercial Bank) to the major stockholder Erste Bank.
At a Price to Earnings Ratio SIF Moldova stands at 3,33, one of the lowest valuation from Romanian stock market.
The stock price seems like is making a pennant around 1,30 and I'm expecting the price to continue the upside move to 1,45. From Elliott Wave point of view looks like the price just finished a massive correction zig-zag ABC and it's lunching to a new impulsive wave to reach on the long term 1,88.

Good luck everybody.

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