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Take more profit on National Bank of Greece

October 29, 2012

29 October

In my methods section, I state that daily RSI divergences can be used as a reason to take profit but that weekly divergences are needed to merit entering a position. I previously showed that daily divergences on their own are not enough to merit entering a position.

The position in National Bank of Greece (NBG) v S&P 500 Index has had one third removed (on 13 September). I will now remove another one third. This is due to the daily RSI divergence that exits on this ratio.


The weekly chart however, has not yet reached overbought on the RSI.


This ratio could power much higher, how much is beyond the scope of what I do. I’m just pointing out that the daily divergence, which will likely bring at least a consolidation or pullback. There is no guarantee that a weekly overbought RSI will be reached.

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