ALFEN in 600% rally to 60 euro?

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** investment opportunity - European stock! **

A focus on European stocks for a change. The US stock market is becoming increasingly overbought with opportunities few and far between for long term investors. A look overseas provides some attractive opportunities.

As Europe transitions towards greener electricity generation so does the demand for infrastructure. One such company seeking to meet that demand is Netherlands based company ALFEN, which:

“engages in the development, production, and sale of products, systems and services related to the electricity grid. It focuses on smart grid solutions, electronic vehicle charging equipment, and energy storage systems for businesses.”



The TA:

On the above 4 day chart price action has corrected 90% since August 2022, a number of reasons now exist to consider an investment in this micro stock. They include:

1) Price action and RSI resistance breakouts.

2) Price action on legacy support (see monthly chart below).

3) Regular bullish divergence. Multiple oscillators print positive divergence with price action.

4) The 60 euro range is 1st significant resistance upon legacy support confirmation.

Is it possible price action continues correcting? Sure.
It is probable? No.

Ww


Type: Investment
Risk: You decide
Timeframe for long: Remainder of 2024
Return: 500-600%
Stop loss: Elsewhere


Monthly support