Telefônica Brasil, trading as Vivo, is a Brazilian telecommunications group, subsidiary of Spanish Telefónica. It was originally formed as part of Telebrás, the state-owned telecom monopoly at the time. In 1998, Telebrás was demerged and privatized.
Bias: Buy/Long
Strategy: Re-Emerging Momentum.
The PEAD projected a Bullish outlook for $VIV after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 100%.
The PEAD projected a Bearish outlook for $VIV after a Negative under reaction following its earnings release placing the stock in drift D with an expected accuracy of 80%.
Trade idea - Technicial analysis:
Sell $VIV.US
Chart: Heikin Ashi 1D
Bulls have started to show weakness. Muliple long wicks forming doji's at the top of the last run.
Chart: Candlestick 1D
• MACD histogram crossed over and now posting negitive trend.
• RSI falling from overbrought
Target:
10.40 Confluence of 50EMA and 0.328 fibonacci level. Approx 20%
The MACD is curling up and the price recently closed above the .5 fibonacci level and is getting close to the descending trend line.
Premarket looks like it will open to the upside. I anticipate resistance at 10.30 as this was a prior double top.
first target 10.44, 11.35
Telefonica Brasil SA (VIV) looks good (BULLISH) right now.
Daily Chart
Trading Above the Cloud - BULLISH
Accum/Dist turning up - BULLISH
On Balance Volume turning up - BULLISH
Stochastic turning up - BULLISH
RSI moving higher - BULLISH
MACD turning up - BULLISH
Weekly Chart
All indicators mentioned above are BULLISH
The stock looks like it's going to run...
