Rykin_Capital

Abev Oversold, turning. ABEV

Long
NYSE:ABEV   Ambev S.A
Oversold (?C Wave) now coming back again. We are locally bullish on this one. It's still early days of general correction on this one. And like all that has come up must come down, all that had dipped south too fast must rise up again. We are betting on this to be the case here.

We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets going down are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe!
Trade closed: stop reached