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Charts: Turkish Stocks, Currency Set to Rally

CNBC.com
Wednesday, 13 Jan 2010 | 5:52 AM ET

Investing in Turkish stocks could bring strong gains over the next year and a rally in the country's currency could give those gains an extra boost, Chris Zwermann, global strategist at Zwermann Financial, told CNBC Wednesday.

Charts: Turkish Stocks, Currency Set to Rally
Investing in Turkish stocks could bring strong gains over the next year and a rally in the country's currency could give those gains an extra boost, Chris Zwermann, global strategist at Zwermann Financial, told CNBC Wednesday.

"In Turkey we see the market has more or less reached the levels that we saw before the crisis (583 points)," Zwermann said.

"If we reach this barrier we need to have some kind of reaction and later on during the year I expect it to jump higher," he added while looking at the Dow Jones Turkey Titans 20 Index.

If the index reaches 590 points, the target will be 770 points for the year, according to Zwermann.

"The Turkish lira has a possibility to strengthen further… In addition to the stock market you have a good gain to expect here on the Turkish lira," he said.

In the U.S., Zwermann expects the S&P 500 to start to gain again next week. Watch the full interview above.

For the Investor:

  Price   Change %Change
S&P 500
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Contact Europe: Economy

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