Poor risk/reward, so I will question whether or not to enter this trade and will evaluate the fundamentals at the time of completion, as this profit target would usually be my second target. Hopefully this should form by the end of the week. Enter the formation at 17.43219.
Grupo Bimbo, we can see how finally the price broke the down trend channel, now maybe are enter at an ascending wedge. For now the price will be down for few days. Maybe can touch the 2.5/2.6 level for reboot an go up to 3.1/3.2 level Ideas, Comments, Corrections They are always welcome.
Technicals We have a Gartely pattern set up here. I am looking to go long at 0.03697, which falls between the 0.786 retracement and 1.272 extension along with 1:1 ratio between the AB and CD legs. There is also a divergence on the Relative Strength Index from a heavily oversold condition, supporting a spike from around the current price. Fundamentals...
The trend is clear, another movement has started. Will it get to 20? or will it stop at about 18.75? History and analysis indicates strong buying pressure and continuation of upward move.
Look closeley the 3 month (quarter) EMA..! The MX don't want to give up against this trendline!
On December 8th 2015, the Mexican central bank reinstated its intervention program to add liquidity to the market every time volatility reach the 1.5% threshold. Since then, the Bank sold 200 millions u$ 8 times. Since the program was not enough, the bank decreased the threshold from 1.5% to 1% last week and also rescheduled all of its interest rate decision...
Talk about rejection! Today we saw some crazy dollar strength. As of 3pm, the dollar had made a 100% retracement or 214 bps round-trip from this morning's ECI drop. The market gave a clear signal that it believes - or rather, more likely, wants , a Fed rate hike. That's all that matters, folks. Oil is heading lower. What's more, the technicals strongly support...
If you've ever taken an inter-city coach ride in Mexico as I have, you'll know that the country is crying out for an alternative way to travel. VLRS (aka Volaris, ultra cheap airline) is making an excellent recovery from its lows and I feel that in time it's heading back to the post IPO highs of $15 and more. I made a losing trade on this one last year but I...
The iShares MSCI Mexico Capped ETF has sustained its longest move above the 50-day EMA since September (prior to breakdown). If EWW is able to close above the 2015 resistance level at $60.50, look for a continuation to the $63-$65 area in the next 1-3 months. An initial stop loss on a stock position can be placed under $58. Option traders can consider buying the...
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With Mexico stocks holding up very nicely, I'm looking for a close above 13.20 to take a nice ling swing position with a $15 first target