Buy signal holds, but the first stop is breached
Banco Bradesco stock sheds 5.3% as price breaks below its first stop
Buy signal holds, but the first stop is breached
Our view last week
Banco Bradesco shares bounce 3% off their 50-day moving average, after a touch in the 15 area: a clean return to dynamic support. The week just closed slips 0.6%, though, with sellers slightly in control and a distribution phase underway. In this week's Banco Bradesco technical analysis the buy signal holds: the stock stays 5th among the 12 open Rest of World Longs, with earnings due this very week.
This week's summary
Banco Bradesco shares slide 5.3% this week, with sellers extremely dominant in the last bar and a distribution phase underway, a sharp reversal from the Financials sector, up 1.16% over the same span. Price closed below the first stop level (SL1) flagged in last week's card (15.28 area): for anyone following that level the trade is closed.
IQS Phase
41
ordinary
Signal Strength
66
medium
Sizing
STANDARD
Ranking
#4 / 13
Rest of the World stocks in progress
Trade P&L %
-4.96%
from signal to date, no stop loss
Rank position
ranks 4th among the 13 Longs already running for titoli resto del mondo in our ranking, with a signal strength of 66 out of 100.
Sector context
SectorFinancials
Benchmark ETFXLF
Sector regimein strong phase
Performanceweekly +1.16% · monthly +4.78%
BBDC3 belongs to the financials sector (reference ETF XLF). The sector is classified in strong phase according to our weekly reading.
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