Software (IGV): The software benchmark pulled back ~4% from its all-time high and is testing support at its 21-DMA ($105). Look for
the IGV to consolidate in a sideways range. Next level of support is at the rising 50-DMA ($98.9), which is 7% lower. Quantitative
metrics remained strong: Up/Down Volume ratio above 1 and a positive Acc/Dist Rating of 23 indicate accumulation. Most leading
ideas are extended and pulling back. The constituents that are either setting up or in the actionable range include APPF, IBM, MANH,
MSFT, PANW, and PTC. Nine of the 12 industry groups witnessed improvement in Group Rank over the last four weeks. Medical
(#62) and Tech Services (#33) had the sharpest improvement, followed by Software Enterprise (#14) and Credit Card & Payment
Processors (#28). We recommend a patient approach and allowing extended ideas to consolidate while monitoring new ideas that are
emerging out of bases.
Author: Romeo Alvarez
Romeo Alvarez is a senior equity analyst at William O’Neil + Co., a registered investment advisor serving 400 top-performing institutional portfolio managers worldwide. The firm employs 150 associates in Los Angeles, New York, Boston, and London.
Based in the firm’s Los Angeles office, Mr. Alvarez is a senior equity analyst covering the Americas region and a member of the Global Focus List Committee, which approves all equity recommendations for developed, emerging, and frontier markets. Romeo also selects equity initiations to be covered in the Technology sector and regularly reports to clients on innovation and technology developments in Trend Watch.
Mr. Alvarez earned a B.S. in Business Economics from the University of California, Riverside, and an MBA with a focus in Finance from Loyola Marymount University, Los Angeles.
O’Neil Global Cryptocurrency Weekly
Commentary: We continue to have a positive view of the crypto market as GBTC continues to trade above the 21- and 50-DMA. GBTC broke out of a stage-three consolidation base on November 11 and is now trading 21% above the pivot.
The following are the stocks that screen well from the O’Neil lens:
- Breaking out – BTBT, COIN, NVDA
- Setting up – IREN
LATAM Weekly Summary
Key points from this week’s report:
Please refer to the attached PDF for the full report.
- Brazil’s Bovespa index was up 22 bps last week but continues to trend below its 200-DMA. The index remains in a Rally Attempt. We recommend clients wait for a follow-through day to add risk in Brazilian equities.
- Mexico’s main index was up more than 3% last week and is attempting to retake its 50-DMA. The index is currently in a Rally Attempt. We recommend clients wait for a follow-through day to add risk in Mexican equities.
- The total number of Focus List ideas in the LATAM region remains at four.
- Stocks of interest: Bolsas Y Mercados Argentinos (BMA.AR; BYMA AR), Weg (WG3.BR; WEGE3 BZ), Plaza (MAL.CL; MALLPLAZ CI), Aguas Andinas (EMO.CL; AGUAS/A CI), Genomma Lab (GLI.MX; LABB MM), and Grupo Aeroportuario del Pacifico (GAP.MX; GAPB MM).
O’Neil TMT Weekly
Software (IGV): The software benchmark remains near all-time highs after bouncing 5% off the first level of support at its 10 DMA
($106). Quantitative metrics remained strong: Up/Down Volume ratio above 1 and a positive Acc/Dist Rating of 28 indicate
accumulation. Key earnings this week include ADBE, MDB, and ORCL. Constituents that are either setting up or in the actionable
range include APPF, BL, CFLT, DT, GTLB, MANH, MSFT, PTC, RNG, and WK. Eight of the 12 industry groups showed
improvement in Group Rank over the last four weeks, with Medical (#59) and Spec Enterprise (#16) showing the sharpest
improvement. We recommend adding risk to ideas that are breaking out or forming the right side of their bases with a rising RS line.
O’Neil Global Cryptocurrency Weekly
Commentary: We continue to have a positive view of the crypto market as GBTC trades above the 21- and 50-DMA. GBTC broke out of a
stage-three consolidation base on November 11 and is now trading 20% above the pivot. The following are the stocks that screen well from
the O’Neil lens:
LATAM Weekly Summary
Key points from this week’s report:
Please refer to the attached PDF for the full report.
- Brazil’s Bovespa index declined 2.7% last week and sharply undercut support at the 200-DMA. The index remains in a Downtrend. We recommend clients avoid adding risk in Brazilian equities.
- Mexico’s benchmark index declined 1.2% last week and continues to trade below all its key moving averages. The index was shifted to a Downtrend from a Rally Attempt. We recommend clients avoid adding risk in Mexican equities.
- Rede Dor Sao Luiz On (RD2.BR) and Nu Holdings (NU) were removed from the Focus List, taking the total number of Focus List stocks in the LATAM region to four.
- Stocks of interest: Genomma Lab (GLI.MX; LABB MM), Grupo Aeroportuario Del Pacifico (GAP.MX; GAPB MM), Alfa (AFA.MX; ALFAA MM), JBS (JBS.BR; JBSS3 BZ), Suzano (SUZ.BR; SUZB3 BZ) and Plaza (MAL.CL; MALLPLAZ CI).
O’Neil TMT Weekly
Software (IGV): The software benchmark pulled back ~1% but found support at its rising 10-DMA ($104). The IGV is just 3% off its
highs with the next level of support at its 21-DMA ($101). Quantitative metrics remained strong: Up/Down Volume ratio above 1 and a
positive Acc/Dist Rating of 32 indicate accumulation. Key earnings this week include – CRM, SNPS, VEEV, and ZS. Constituents that
are either setting up or in the actionable range include ADYE.NL, HUBS, NET, PANW, PTC, and TEAM. Ten of the 12 industry groups
showed improvement in Group Rank over the last four weeks, with Medical (#63) and Spec enterprise (#22) showing the sharpest
improvement. We recommend adding risk to ideas that are breaking out or forming the right side of their bases with a rising RS line.
O’Neil Global Cryptocurrency Weekly
Commentary: We continue to have a positive view of the crypto market as GBTC trades above the 21-DMA and 50-DMA. GBTC broke out of
a stage-three consolidation base (pivot: $65.61) on November 11 and is now trading 17% above the pivot. The following are the stocks that
screen well from the O’Neil lens:
LATAM Weekly Summary
Key points from this week’s report:
Please refer to the attached PDF for the full report.
- Brazil’s Bovespa index was up more than 1% last week and managed to close above its 200-DMA. The index was shifted to a Downtrend. We recommend clients avoid adding risk in Brazilian equities.
- Mexico’s benchmark index declined 8 bps last week and continues to trade below all its key moving averages. The index was shifted to a Downtrend from a Rally Attempt. We recommend clients avoid adding risk in Mexican equities.
- Inter & Co. (IP9.BR; INBR32 BZ) was removed from the focus list, taking the total number of Focus List ideas in the LATAM region to six.
- Stocks of interest: Aguas Andinas (EMO.CL; AGUAS/A CI), Grupo Aeroportuario Del Pacifico (GAP.MX; GAPB MM), Gentera (CSV.MX; GENTERA* MM) and Suzano On (SUZ.BR; SUZB3 BZ).
O’Neil TMT Weekly
Software (IGV): The software benchmark bounced 5% off its 10-DMA and made a new all-time high. The first level of support is at
the 10-DMA ($103), followed by its 21-DMA ($100). Quantitative metrics remained strong: Up/Down Volume ratio above 1 and a
positive Acc/Dist Rating of 52 indicate strong accumulation. Strength was led by stocks like ESTC, SNOW, and WIX, which jumped
more than 10% after earnings, along with new FL additions NET and DDOG. Key earnings this week include ADSK, CRWD, NTNX,
WDAY, and ZM. Constituents with the best technical setup include AZPN, CDNS, PANW, and TEAM. Nine of the 12 industry groups
showed improvement in Group Rank over the last four weeks. Spec Enterprise (#17) had the sharpest improvement, followed by
Credit Card/Payments (#29) and Design (#144). We recommend that investors add risk in ideas that are breaking out or forming the
right side of their bases with a rising RS line.
