vlad.adrian

Brazil - Post election long

Largo
AMEX:EWZ   iShares Inc iShares MSCI Brazil ETF
6
During the weekend, presidential elections concluded with the re-election of Dilma Rousseff. This was perceived as bad news for the BOVESPA, but after gaping strongly on Monday, the Brazilian stock market has been rising strongly.

A double bullish divergence on the MACD histogram on a triple bottom formation, with extreme volume bars and climactic action on the Weis Wave.

I expect this ETF to go at least to 50$.

The daily chart offered almost a perfect buying signal. A daily bullish divergence with a very bullish weekly chart
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