Decline loses its edge as buyers step back in
Banco do Brasil rises 3%: buyers dominate 93% of volume as price presses into resistance
Decline loses its edge as buyers step back in
Our view last week
Banco do Brasil is 17 weeks into a sell signal, up 16.09% since entry. The week just closed shed 1.8%, but the technical picture shows the downward push losing steam: MACD and CMF are both improving against the prior 3 weeks, while the daily chart is building a sequence of 5 higher lows. Trading remains not recommended for a new entry.
This week's summary
Banco do Brasil bounces 6% off its own 20-day moving average and closes the week up 3%, driven by buyers who dominate 93% of volume. It confirms what emerged seven days ago - CMF and MACD both improving - and price is now squeezed into a very tight band, right up against resistance in the 20.65 area.
IQS Phase
68
in tension
Signal Strength
2
decline fading out
Sizing
MINIMUM
Ranking
#13 / 21
Rest of the World stocks
Trade P&L %
+13.57%
from signal to today
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