Disconting the bad beguining for the colombian market caused for the present President of Colombia, I think in this moment de main company of the country, "Ecopetrol" $EC is supporting in the short term by tecnical and fundamental issues. Fundamental view is product of the great result of 2022 FY and its consecuen big dividend, around 30% at current price. By the...
TP: 19.43 SL: 12.24 R/R: 1to8 With Brent Oil prices between US60 and US70, demand growing as economy reopens and goes back to 'normal', this company will easily be above US19.
The Stock is moving in a high volume to price zone which doesn´t allow to find a good risk/benefit ratio at this moment. A break above $3100 might suggest the possibility of higher prices
Folowing its downtrend ECOPETROL migth be a short at these prices
EC broke out today. We are seeing an extending 3rd Wave. Update to related idea. -AB