I've been wating for this correction for while, ibov has been overbought for at least 8 days. In those same last 8 days, following a trend of USA markets, ibov got caught in a range of 2%, which made trade on it very hard. But i think we are about to see a correction that will create a great opportunity to go long again. Targets are shown by the white lines (hope...
Bovespa has completed a complex 5 wave structure to the downside and seems ready to break the montly correction. I'm expecting the completion of an ABC pattern to the upside to break the last trendline of that stucture. Bullish divergence on weekly. Look at the comment to see a snapshot for the monthly general structure.
Fairly high probability we see the Bovespa index trade to the downside. This is a great trade because it presents us with multiple opportunities if the stop gets triggered (with a close on the weekly time frame).
Pay Attention to the correlation between USDBRL and Bovespa Index - extremely important as Brazil´s equity market has proven to be extremely sensitive...
After a nice rally (see related idea), downtrend back again on IBOVESPA
-Hook and crossover on overbought region of StochasticRSI;
-MD down closed on RSI (white circles);
-Marubozu candle at top of rally, followed by bearish candle indicating exhausted rally;
-Price hit a conjunction of important trend lines, on a region of resistance;
Simple idea. There is this big flag, and price is reaching the base of this sideways channel. Two entries are showed on the chart, in case of being stopped on entry 1. Im bullish on bovespa, so i think this is a great opportunity and ITUB4 is one my favourite stocks to watch and trade.
The Bovespa has been forming a symmetrical downward trend followed by a 1.618 extension of the longer bull trend. You can see this in the chart by the first light blue fib retracement, and then I used a green arrow to indicate where the second retracement line is compared to the green 1.618 retracement line. The second to last move down is a bit tricky as it...
The weakening of the Real will likely bring further losses in this index. A strengthening of the Real will continue to bring gains in the Bovespa index.
See correlation in chart below. It's been statistically significant for 16 years, and is ongoing.
Until Feb 2016, Bovespa still was on 2008 correction, believe me or not. But i do believe that correction has ended, and in the last days we had a kickoff for a longer uptrend. For now we will have a minor correction, for a wave two.
Again, sorry for those who don't care about bovespa.
LEVE O PT E O PSDB JUNTO!
Well, a lot of stuff is going on here on Brazil, Political uncertainty and Economics fundamentals are terrible. The government, for sure, is being a problem more than a solution. But despite that i still believe in a good 2016 from here, based on this analysis and other analysis of major stocks that compose the index.
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...