CosmicDust

EWZ weekly - finally bottoming? - 3/4/2016

AMEX:EWZ   ISHARES MSCI BRAZIL CAPPED INDEX FUND
EWZ
21 2 3
ewz
In bull market in ONE week. (open price: 20.60, close price: 24.99, 21.3% gain). Weekly technical is in sweet spot and I think it has a lot potential. Waiting for some pullback and consolidation and a better entry.
I am in this for some time since the divergence on RSI (you have it here as well in Jan - feb). Assuming that that was the top and bottom think it is probably to have a recent top here now at first major fib as i expect markets to cool a bit after a rally from 12th. Brazil though has had a good streak of news lately, and this is clearly making news to everyone so people are just going in on the boat of this all time low - it may continue to shoot up. markets tend to be irrational at times
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good trade . Regarding RSI curve the Support in weekly curce Price is 30 $.
I am follwing this stock too since 2 weeks. I will also wat for a strong pull back.
Nice view, though
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