Time for bounce

This could be a good time for multi day bounce. The quality of the bounce would tell us whether the worst is behind us or there is another leg down. We have already talked about oversold valuations in Romania compared to the some of the other global markets. Don’t be surprised if the bounce back is sharp. Oversold markets have a tendency to bounce fast.
There are other reasons why this could be good trading bounce. First, the previous lows have been retested. Second, prices have reached key Fibonacci retracement supports. 61.8 percent retracement support from 2009 lows to 2010 highs are key support levels. A bounce from current levels could be good entry points for multi months. Let’s review the respective levels closely.
Enjoy the latest early economic report.

Our Jiseki Time cycles are seasonal patterns of strength or weakness in assets. They are derived from percentile rankings of 0 to 100. The higher the percentile more the chance for an asset to weaken and worst the ranking, better the chance for the respective asset to outperform.
Alpha is a daily strategy signal product that gives trading and investment signals. Alpha is a numeric Ranking product based on TIME fractals. The signals are illustrated through tracker and running portfolios. Alpha can be used by fund managers for relative allocations, traders for leverage bets and high net worth clients for selective trades. Alpha is a part of the time triads analytics developed by Orpheus Research.
Coverage Romania: Romanian stocks, Indices and currency.