MEXICAN BOLSA TECHNICAL ANALYSIS- June, 29, 2016

Mexican Bolsa IPC 29/06/2016

  • The Mexican IPC index moved to the downside, out of consolidation, pushed by the negative sentiment caused by the Brexit event reaching the 43,961 level,  at this level there is an important area of support between 44,150 and 43,850.
  • Based on the bounce at support we wouldn’t be surprised if the price retraced back into the consolidation, however we think that there is a greater chance that after the break a new, lower, channel of consolidation arises between 44,000 and 45,000 points (vs 44,958 and 46,075).

IPC Index.

IPC 290616.PNG

Analyst: Victor Campos, CFA.

Source: LATAMPM with Tradingview.com data. Prices as of June, 28, 2016.

DISCLOSURE: The analyst or analysts responsible for this report may or may not have direct or indirect positions on the stocks and securities mentioned before, as of the date or after publishing. This report is for informational purposes only, based upon publicly available information. Accuracy and completeness of the information cannot be guaranteed. LATAM PM is not in any way be liable for claims related to this report. The information and analyses may not be suitable for your specific circumstances. Each investor shall make their own determination of the suitability of an investment of any securities referred to in this report.