After an ending diagonal that behaved like expected (sharp reversal after it), Ibov should find support at 55816. The main reason for this claim is that this support area is historically important. RSI should reach the uptrend support, and bounce up (any break of this level (33%) on daily RSI (14,close) should be interpreted as a first sign that the uptrend is...
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...
Correction at IBOV, with a estimated fall of 4.7% approximately giving a 50% retrace of previous rally.
After a nice rally (see related idea), downtrend back again on IBOVESPA Signs: -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;
Well, i believe that the dashed green line is a major support. Its a region of plenty RSI's UP MD (historically) and the dailly RSI is reaching the support of up trend. Its also the region of bottom of Wave 4 of the preceding rally. A look at the higher time frames will show that this is in fact a region of reversion, specially reversion from downtrends and...
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. Thanks