BG TRENDS – 18 DEC 2009


What a week! Bulgarian equities accelerated ST and MT trends down but managed to hold very important support area at least for main two indexes SOFIX and BG40 (see my previous post here). Technicals went in deep over sold conditions and at the end of the week most stocks and indexes managed to bounced back making bullish patterns across the board (for liquid stocks). Long tern trends for indexes  were challenged but managed to hold as i expected. We are not out of the woods yet but i expect to see some move up taking in mind huge oversold conditions for major stocks.

Trends are subject of revision on daily basis after market close. Long – term trends are revised on weekly basis after friday close.

Trends are based on my mechanical trend following system. They are NOT trading recommendations.

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