TRADES RECAP APRIL, 18, 2016
BRAZIL BOVESPA. APRIL, 04, 2016
Brazil Bovespa index hit our stop loss last Wednesday. Yet the bearish divergence is still in place just under the downtrend that started on September 2014, therefore, we maintain our downward bias.
It is worth noting that we maintain a cautious stand looking for sell signals only if there is a break of the recent uptrend that signals a clearer change in sentiment.
MEXICO IPC. APRIL, 28, 2016
Our short bias on Mexico IPC index is yielding return with the recent weakness of the Index. Furthermore the index broke the recent uptrend just after failing, to close above the historic highs (on a weekly basis), which indicates a potential reversal.
We believe that while the IPC keeps trading below 46,000 units the bias is downward with a first price target to the key level around 44,000 units. In case that this level is broken we could see further weakness towards our price objective of 42,692.
Analyst: Victor Campos, CFA.
Source: LATAMPM with Tradingview.com data. Prices as of April, 15, 2016.
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