Hello,
This is the Study of Brazilian Stock market Index - IBOV
The study uses concepts from Elliot Waves, Fibonnaci, Trendlines, and other Fundamentals that serve as a foundation for us in order to believe in an upside.
--- Fundamentals ---
When we talk about economics we have a Brazil reducing its interest rates (SELIC) to historical minimum levels, which forces people to seek new investments with higher risks to seek a reasonable return -> Positive
With this thought, we not only said that more people would invest in stocks, but more investment funds would have capital to invest in projects and companies.
There is a good time for the Brazilian economy. -> Positive.
Liberal Agenda just passed, we have the Social Security passing, which generates some slack in public accounts, the big problem of current management. -> Positive.
Privatizations are being studied and performed, once again acting on the pain formed by the current public deficit -> Positive
Negative side: Trade War between USA and China is slowing the global economy, where does it go? -> Negative
Reversed US yield curve, the recession could come in less than 1 year -> Negative (what will be the impact on a possible US crisis?)
-----Technical analysis ----
Looking at price dynamics, we clearly see the design highlighted in the analysis.
IBOV has just completed the retraction of a wave 1, clearly respecting Fibonacci levels (which also occurred in first wave 1-5 and later in ABC).
We are on an uptrend line (LTA) and our Exponential Moving Averages, which support the continuity of the climb.
Wave 3 is projected at almost 120,000 points, and later we can pass close to 130,000 points.
This analysis has an educational bias.
Manage your own risk.
This is the Study of Brazilian Stock market Index - IBOV
The study uses concepts from Elliot Waves, Fibonnaci, Trendlines, and other Fundamentals that serve as a foundation for us in order to believe in an upside.
--- Fundamentals ---
When we talk about economics we have a Brazil reducing its interest rates (SELIC) to historical minimum levels, which forces people to seek new investments with higher risks to seek a reasonable return -> Positive
With this thought, we not only said that more people would invest in stocks, but more investment funds would have capital to invest in projects and companies.
There is a good time for the Brazilian economy. -> Positive.
Liberal Agenda just passed, we have the Social Security passing, which generates some slack in public accounts, the big problem of current management. -> Positive.
Privatizations are being studied and performed, once again acting on the pain formed by the current public deficit -> Positive
Negative side: Trade War between USA and China is slowing the global economy, where does it go? -> Negative
Reversed US yield curve, the recession could come in less than 1 year -> Negative (what will be the impact on a possible US crisis?)
-----Technical analysis ----
Looking at price dynamics, we clearly see the design highlighted in the analysis.
IBOV has just completed the retraction of a wave 1, clearly respecting Fibonacci levels (which also occurred in first wave 1-5 and later in ABC).
We are on an uptrend line (LTA) and our Exponential Moving Averages, which support the continuity of the climb.
Wave 3 is projected at almost 120,000 points, and later we can pass close to 130,000 points.
This analysis has an educational bias.
Manage your own risk.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.