NBG Stock Forecast: 21.74% Gain On Friday

NBG Stock Forecast

I Know First published an article about National Bank of Greece S.A. (NBG) on January 6th, 2015 for Seeking Alpha. National Bank of Greece had an overwhelmingly strong signal of 1242.37 and a predictability of 0.01. In accordance with the algorithm, the company has reported short-term capital gains of 18.07%.

National Bank of Greece was part of the stock forecast that can be found in the Bank Stock Forecast” Package.

The full Top 10 Bank Stocks forecast includes a daily prediction for a total of 20 stocks with bullish and bearish signals:

  • Top ten stocks picks to long
  • Top ten stocks picks to short

NBG Stock Forecast

The article posted on Seeking Alpha argued that the stock was attractive for investors because of strong financials and that the market was overly pessimistic about Greece leaving the European Union. With elections approaching, investors believed that Greece would leave and no longer be part of the solitary monetary system when the SYRIZA party was elected. I Know First argued that this was unlikely for a variety of reasons, and that the stock price was greatly undervalued at the time.

Greece came to a deal with its European creditors on Friday evening. The European Central Bank, the European Commission, and the International Monetary Fund agreed to throw the indebted nation financial life for four months. Funding is dependent on the Greek government committing to a program of broader structural reforms, including implementation of budget cuts agreed by its predecessors.

After the announcement, the National Bank of Greece’s stock price jumped 21.74% in one day. With news that Greece had reached an agreement with the rest of the Eurozone to remain under the European Central Bank, it would appear that the prediction for the National Bank of Greece was accurate, at least so far. With strong financials and a strong algorithmic signal, it appears that the bank will continue to increase as the original algorithmic forecast predicted.