trademan1
Long

EWZ oversold with bullish divergence

AMEX:EWZ   ISHARES INC MSCI BRAZIL ETF
98 views
1
98 0
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.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out