Monthly view, green line very important. Lots of confluence. Daily view. Failure of setup is if 33 doesnt hold.
Argentinian Banks have been suffering. However, we have seen HUGE hands buying in the 43-46 price range.
BMA: banco macro s.a. 2018-08-08 18:56:27 Detected possible stock repurchase
09/05 BMA ER is unconfirmed but I think that BMA has 6% to 15% downfall but after that, ultra bull.
Banco Francés, los objetivos son: 1- ingresar en Fib 0,236 (18,33). 2-superar M.A 50 (18,71) 3- Últimos picos del tramo bajista (19,50); (19,87); (21,08). Stop loss: (17,74)
Fibonacci Golden Ratio at 83.76 and oversold Stochastic RSI. Rebound with a buy opportunity at 84.50, stop loss bellow the Golden Ratio at 82.30 and take profit before 89.90 Fib resistance level.
In our last post we recommended to buy $BMA, now the share is very near of USD 70. It's a good opportunity to buy this stock. Now the stock is trading between USD 70 and 73.
Argentina could be part of the MSCI Emerging Markets Index in 2017 as announce yesterday the MSCI. So this news could be the driver that need the ADR to broke the top