Banco do Brasil, fresh buy signal
Banco do Brasil stock: +4.9% and a fresh buy signal
Banco do Brasil, fresh buy signal
Our view last week
Banco do Brasil's Sell signal remains under management, but this week the tug-of-war became obvious: almost three-quarters of volume came in on the sell side, yet price barely moved, boxed between the 20.3 and 20.4 areas. The stock has stayed compressed in a very tight range for a second week running, with the short now more than 14% in profit. Beneath the surface the ADX keeps fading: the trend loses conviction step by step.
This week's summary
Banco do Brasil stock bounces off its 20-day moving average and closes the week up 4.9%, after two weeks boxed into a very tight range. The sell signal we had been tracking gives way to a fresh buy signal, first in our fresh Longs ranking for Rest of the World stocks. The weekly technical analysis shows the MACD back in a bullish cross, though the ADX keeps fading: the picture is taking shape, without full conviction yet.
Fresh BUY
·1st week from start
·Rest of the World stocks
·T1
·📅 Earnings · Aug 12
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IQS Phase
48
ordinary
Signal Strength
54
medium
Sizing
STANDARD
Ranking
#1 / 1
New rest of the world stocks
Trade P&L %
+0.00%
from signal to date, no stop loss
Rank position
ranks first in our fresh Longs ranking for titoli resto del mondo, with a signal strength of 54 out of 100.
Sector context
SectorFinancials
Benchmark ETFXLF
Sector regimein strong phase
Performanceweekly +1.12% · monthly +3.94%
BBAS3 belongs to the financials sector (reference ETF XLF). The sector is classified in strong phase according to our weekly reading.
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