CVCB3 Technicals { 26/11/2020 }

26 nov 2020

Geopolitical Context : SARS-CoV2-2019 ☣

Company Internal Situation : Unkown ❓

Average Stock Market Volume : { 23/11/2020 -> 25/11/2020 } = 4,3 x 10^6 USD

Trading Alert Triggered : ~17,00 BRL 18/11/2020

Current Price : 17,95

Trading Modality : Swing { 2 weeks ~ 3 months }

Technicals {

EMA ( L = 9 )

Stochastic [ K = 20 ]

Stochastic Moving Average Last Intersection : Oversold 09/2020

Momentum : Upward

Fibonacci Retracement Referentials [

Price Resistance ( Tested Twice, zone at ~52,82 BRL ) 14/10/2019

Price Support ( Single Test, zone at ~5,00 BRL ) 16/03/2020

Notable Fibonnaci Channel {

0.236(16.10) Support -> 0,382(23.14) Resistance

Tested Resistance { Twice }

Tested Support { Twice }

Resistance Violation = true, although weak bullish movement, candle retrace back into channel

Support Violation = True, strong bearish movement, seller wave stopped at ~14,31 BRL ( blue retangle )

Conclusion : Plausible Bullish Position { Target = 23,45 BRL }

Stop loss : 14,31 BRL