EWZ - Bullish Stock Market goes global
As the vaccine news comes out very often lately, US stock market have rallied to new all time highs. With the backdrop of weakening dollar and soaring precious metals prices, Brazil will benefit since it has huge dollar denominated debt.
EWZ has corrected 9 months. On 12/1/2020, price broke out of pivot $33.4. The space up to $43.3 have very little trading volume, meaning there is very little resistant. A good trading setup will be buying at <$35, SL $32.5(-7%), Price Target $43.3 (+24%)
EWZ has corrected 9 months. On 12/1/2020, price broke out of pivot $33.4. The space up to $43.3 have very little trading volume, meaning there is very little resistant. A good trading setup will be buying at <$35, SL $32.5(-7%), Price Target $43.3 (+24%)