Buy signal, week 4: the trade moves into profit
Banco Bradesco jumps 6.7% with a decisive bounce off its 20-week moving average
Our view last week
Banco Bradesco stock ended the week almost flat, down 0.1%, and the moving-average cluster in the 15.7 area held for a second week running. Sellers stayed extremely dominant in the weekly bar, while on the daily chart money flow is positive and the weekly MACD keeps improving. In technical analysis terms it stays among our weekly buy signals, with the trade flat since entry and the 7-day high, in the 16.4 area, still to be cleared.
This week's summary
Banco Bradesco breaks its stalemate with a 6.7% gain. The week's price action is clear-cut: a test of the 20-week moving average, in the 15.8 area, then a firm push through the 16.4 area, the high that was still to be cleared 7 days ago. Banco Bradesco stock lifts the trade to more than 6% in profit and stays among our weekly buy signals, a swing trading setup with an improving weekly MACD and money flow back in positive territory, in a financial sector that is still weak.
Open BUY
·4th week from start
·Rest of the World stocks
·T1
·📅 Earnings · Oct 22
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IQS Phase
71
in tension
Signal Strength
55
medium
Sizing
STANDARD
Ranking
#13 / 20
Rest of the World stocks in progress
Trade P&L %
+6.45%
from signal to date, no stop loss
Banco Bradesco (BBDC3) weekly chart — EMA50 · MACD · VWAP
Weekly chart · EMA50 · MACD · VWAP · Source: TradingView
Rank position
ranks 13th among the 20 Longs already running for titoli resto del mondo in our ranking, with a signal strength of 55 out of 100.
Sector context
SectorFinancials
Benchmark ETFXLF
Sector regimeweak phase
Performanceweekly -2.46% · monthly -7.23%
BBDC3 belongs to the financials sector (reference ETF XLF). The sector is classified weak phase according to our weekly reading.
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