GGAL
📈 The stock experienced a significant rebound, nearly 4%, in the last two hours of trading on Friday, fueled by news from Bloomberg about a potential IMF loan.
📉 Before the surge, the stock had been declining, with the first three hours of Friday’s trading showing very low volume.
🏦 The overall trend for banks, including Galicia, is bullish, with lows consistently rising, suggesting a potential break in the short-term correction trend.
@ClaveBursatilTV:
“Let’s see the chart of Grupo Financiero Galicia, the ADR. The banks did not reach the 200-day moving average; they are much more bullish. We can also see that the lows have been ascending. If we draw a straight line, we can think that the correction trend in the short term is breaking. Let’s see the ADR of Grupo Financiero Galicia in hourly candles. The rectangle marked on the chart shows the hours of Friday’s trading session. It started by falling and finally had a surge. What happened at that moment? It was a session in which the first three hours had very low volume and the last three hours had a much higher volume. Well, at that moment, this communication came out from the Bloomberg news agency, stating that the International Monetary Fund is considering a loan of 20 billion dollars for Argentina, as reported in an informal meeting. Bloomberg says, written by Jorgelina do Rosario, that the IMF plans to discuss a new loan for Argentina, to be discussed next week between the staff and the board of the fund. The fund will discuss an extended facilities loan of 4 years for about 15,000 million or closer to 20,000 million, and this could be unlocked after talks between the fund members and the board members. Bloomberg also says that the spokesperson for the fund and the Ministry of Economy of Argentina have not yet responded to this version. This informal meeting, Bloomberg says, takes place after the members of the lower house of the Argentine Congress voted in favor of Milei’s plan to deal with the fund. Not only did Galicia rise and turn strongly positive, almost 4% up, but all Argentine stocks, which were all negative, rose sharply, and the Merval, which was negative, turned 3% positive, managing to neutralize the week’s decline.”
Viewers can see the exact part of the YouTube video where @ClaveBursatilTV discusses the stock here:
View the video on YouTube.
Read more articles analyzing GGAL at the following link. GGAL stock.
