Aside from the aforementioned glum fundamental outlook GREK has to contend with, the technical picture is not pretty, either. At the start of trading Thursday, the ETF was nearly 12% below its 50-day moving average and almost 8% below its 200-day line. If selling pressure intensifies and support at $14 is violated, GREK could retest its 52-week lows in the $10.50 area.
Global X FTSE Greece 20 ETF
ETF Trends editorial team contributed to this post.