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By Apostolos Manthos
Despite the optimism of trying to cultivate the country in recent days with the country’s hesitant opening, a deafening economic recession is looming, one that does not freely leave the reins of increased additional investment risk. Margins on the rise for the next 8 to 10 weeks, both on the general index of the Greek stock market and on various currency companies, are now close and visible. According to some market leaders, good gains have already been made from the lows and the “foam” remains, which has a “small” margin for growth and a higher risk of a violent recession. In this environment there are some companies that can offer, with the corresponding risk, a dessert on the rise. Such as:
The PPC, which, with a net debt that remained stable at 4.7 billion euros, presented a very fragile balance with many under construction, due to COVID-19, gray areas. The company is also expected to have a significant loss of revenue this year due to the reduction of its shares in electricity supply. It should be noted that in 2019 the drop in sales of 5.6 percentage points compared to 2018 cost 239.3 million euros. However, the company estimates that the benefit of reducing energy purchase costs will outweigh the effects of coronary heart disease, as well as the loss of income due to a reduction in participation. Schematically, the stock, after heavy losses of 67% from the high of 4.39 euros per year, has achieved a satisfactory rebound from the support area of 1.45 euros to the strong resistance area of 2.80 euros. The request for continuation is initially to secure the base of buyers at 2.30 to 2.20 euros and then the effort to pass confirmed from 2.80 to 2.90 euros, so we can say that the land will be opened to conquer from 3.30 to 3.50 euros. In view of the fact that in recent meetings it has dropped from the level of 2.50 euros, with transactions of more than 4 million pieces.
Investments of 4.3 billion euros are in his plan. IPTO for the period 2021-2030, with the aim of gradually connecting all the islands of the country with the continental system, ensuring more economical and ecological electricity. By 2024, when the first phase of the investment program is completed, projects worth € 1.6 billion will be completed. In his statements, the President and CEO of IPTO, Mr. Manos Manousakis, stated: “IPTO is implementing a 10-year marathon investment plan with the primary concern that projects continue to be implemented on time and, where possible, even earlier. ” He also assured that the effects of the COVID-19 virus are currently very limited. Technically, the action shows a willingness to take a step higher, based on the level of 2 to 1.96 euros. The first strong resistance is at 2.22 euros, while its possible piercing will restore the stock to an upward trajectory for the uncomfortable resistance level of 2.50 euros.
In the analysis I cited for his part Biochalco 4/10 on Capital.gr with the title “My change …” He had emphasized the investment opportunity that deciphered his diagram below 2 euros. In fact, at the time, I reported that the daily stock chart seemed to form a local fund in the eurozone from 1.60 to 1.47, declaring it ready to return above 2.08 euros, then tilting to 2, from 50 to 2.60 euros. In fact, in recent meetings participation has been on the threshold of this area, opening a debate on the approach from 2.86 to 2.90 euros. Change of position upward with a downward section of 2.24 euros.
The To have Due to its solid economic base, it continues to be “asymptomatic” in the virus, while, as we mentioned in a previous analysis, it is moving in the first quarter of 2020 with a significant increase in the average volume of transactions compared to it. last year’s period. Likewise, at the next ordinary general shareholders’ meeting, it will propose the distribution of a dividend of 0.07 euros per share and a return on capital of 0.09 euros per share. Now, schematically, the share price is brushing resistance from 3.50 to 3.60 euros, trying to declare that it is ready to risk an upward transition from the psychological limit area of 4 euros. A characteristic feature of the entire effort is the fact that since April 6, when the stock began to write higher prices of 3.45 to 3.61 euros, 2 million pieces have been made (!). The possible impermeability will return the stock to short-term support of 3.28 euros.
* Mr. Apostolos Manthos is responsible for the technical analysis and investment strategy at Aenaon Markets.
** Reissued from the newspaper “Capital”
