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No Financial Advice – Trade at you own Risk, you may lose everything! After selling shares of Raiffeisenbank last week i am now getting ready for a re-entry. The stock pulled back as I expected and is holding onto some support levels and trend lines. While the stock might pullback a little more, I expect it to hold the area it is in right now.I am looking to re-enter the trade at around €15/€14.50 if possible (will update you). I have attached a Wyckoff Accumulation Schema below. As you can see we are right now in the retest phase, where the chart retest the upper boundaries of the accumulation zone before (theoretically) taking off. If you look at the Raiffeisenbank Chart you can see the wick on the last candle. This is basically what could be called a “stop hunt”. While downward momentum is fairly strong and we haven’t had a consolidating move to trend/support yet it is possible that a direct reversion can occur. This being said I will try to enter as best as i can. Due to the strong economic situation of the bank and the announced dividend payments I expect a trend continuation to occur soon. institutional activity seems to be a significant factor here! As far as the position goes: I am currently still owning 200 shares worth €3000. I have sold €2845 worth of stock recently, which I will reinvest completely Tomorrow/Tuesday. If the price target of €20-€21 will be reached this will mean I have close to doubled my €4100 investment. I will obviously have to pay taxes on the gains (25%), resulting in €1000 taxes that have to be deducted. I wouldn’t be surprised if the stock passes €21 and will pay the dividend in a few months. This will return 390 shares * €0.80 dividend = €312 dividend. Therefore I expect to double my investment despite the tax deductions…. No Financial Advice – Trade at you own Risk, you may lose everything! submitted by /u/undercover_agent47 to r/4kto100k |