Daeubner: Raiffeisen Int - Early to rise

The financial industry was lagging behind the overall market in the after-crisis recovery of 2010. But things might change soon. Take a look at RI`s daily chart for example. This week, the share not only broke out of the downtrend of recent months, but also managed to break the horizontal resistance. A classical break-out triggering a technical buying signal. At the same time, a bottom support zone at €30 was established, as the share price bounced off this psychological level many times over. RI still needs to double in price, before reaching pre-crisis levels. Whatever the future holds, the upcoming merger seems to be pleasing to RI investors. A good stock for a momentum or trend-following play.