trademan1
Long

EWZ oversold with bullish divergence

AMEX:EWZ   ISHARES MSCI BRAZIL CAPPED ETF
95 0 1
EWZ             is at the lower bollinger band with stochastics oversold. It is backed up by the RSI also recently exiting the oversold lower boundary area, which is a buy signal. All the weak hands and people with close stops got flushed out. Now the MACD histogram also shows bullish divergence and is about to cross the zero line. A good risk to reward trade can be made placing stops at the low where they got flushed out earlier, now that they're gone. It was a good place, just the wrong time. Also observed is a pipe bottom candlestick followed by a gap up at the lower band.
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out