Second downgrade coming soon, I think . economics.rabobank.com marketrealist.com www.bulletinleader.com
It re-bounced from the support, but I think it has enough strength to break through. gl .
Bullish divergence followed by a 50% retrace on price. Set entry on key level and waiting for the next resistance touch. Stop losses @3%, Take Profit @10%
Together with my last chart about the BVSP, this is more of a Swing-Trade leveraged position against this active (BOV11 in IBovespa and BVSP in NYSE), considering the following fundamental key points: * The main stocks are being hammered, some of them: Petrobras, Vale, Sabesp. * Brasil fiscal efforts to keep a good spending balance showed some ugly side effects...
There are a lot of fundamentals together with this trade. VALE is deeply connected to china, which faces slow industry growth rates right now, plus the brazilian market is getting frozen with the recent political events, new fiscal rates, etc. I'd expect a 20% value loss, so shorting all the way. Safe trading!
I think it'd be a pity to start this year without testing the famous major annual support by BVSP. Although there are some fundamentals involved, always consider this before entering a long-term trend, the government as been changed but we "wont" (we may) see any new relevant changes until march, or april. So until february, it should call for it's bottom at the...
So far, the long term Weekly chart indicates maintenance of the short position. Price action is now far from D point (short entry postions) so profits should have been taken along the way and protective stops should be now placed "tight".
Considering both Technical and Fundamental aspects, both the new fiscal policy that benefits investors on the stock market and the technical market setup show us that soon we're going to be calling bottom, expecting a rise back to the 70.000- level after 2015, considering a new record and a new resistance. If the support breaks through before that and the policy...
Se espera una definición de la tendencia en los próximos meses. Entre los 45000 y los 62000 puntos, se sabrá si sigue alcista o bajista.