The prices designed two pullback on the 200 weekly SMA. The SMA is designing a rounding bottom. My opinion is to enter at those prices for a long position until the 200 weekly SMA will sustain the prices.
We will be looking to add to our ARCO
position in either of these 2 scenarios.
1st: A pullback to 14. Making another Higher low
2nd: A breakout from May gap down. Confirmed at 16.
Target 17.50
Arcos Dorados Holdings, Inc. engages in the operation of restaurants. The firm operates and franchises McDonald's restaurants in the food services industry through its subsidiaries. It operates through the following geographical segments: Brazil, Caribbean Division, North Latin America division (NOLAD), and South Latin America division (SLAD). The Caribbean Division geographical segment composes Aruba, Curacao, Colombia, French Guyana, Guadeloupe, Martinique, Puerto Rico, Trinidad and Tobago, the U.S. Virgin Islands of St. Croix, and St. Thomas and Venezuela. The SLAD geographical segment comprises Argentina, Chile, Ecuador, Peru, and Uruguay. The NOLAD geographical segment consists Costa Rica, Mexico, and Panama. The company was founded on August 3, 2007 and is headquartered in Montevideo, Uruguay.
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ARCO
