Societe Generale Broke Down Before Headlines Hit
Among other items, Wednesday's sharp decline in stocks was blamed on solvency issues surrounding Societe Generale (GLE.EU), a large French bank. It is, however, worth noting that SocGen, as it is called, was already in a downtrend. Moreover, the stock broke supports in early July and again in early August. SocGen is down over 40% in the last two weeks. Problems were evident on the charts before the media noticed.
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