Key points from this week’s report:
Please refer to the attached PDF for the full report.
Brazil’s Bovespa index declined 0.6% last week and breached support at its 21-DMA. The index was shifted to an Uptrend
Under Pressure from a Confirmed Uptrend. We recommend investors selectively add risk in Brazilian equities.
Mexico’s main benchmark declined 1.0% last week but found support at its 21-DMA, and is only 3% off its 52-week high. The
index remains in a Confirmed Uptrend. We recommend investors add risk in Mexican equities.
The total number of Focus List stocks in the LATAM region remains at four.
Stocks of interest: Gentera (CSV.MX; GENTERA* MM), Industrial Penoles (PA2.MX; PENOLES* MM), Itausa Investimentos
(IS4.BR; ITSA4 BZ), Banco BTG Pactual (BPC.BR; BPAC11 BZ) and Orizon Valorizacao de Residuos (OVD.BR; ORVR3 BZ).
Additional ideas are listed on page 2.
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 TMT Weekly
Software (IGV): For the third consecutive week, the software benchmark is consolidating above its rising 21-DMA ($102). Overall, the
IGV is forming a cup-with-handle consolidation and only 6% off all-time highs. Quantitative metrics remain intact with RS Rating of 85
and Acc/Dist Rating of B-. Ideas that are setting up or have regained key moving averages include BOX, CVLT, DT, GWRE, MSFT,
NOW, and PLTR. Seven of the 12 industry groups have shown improvement in Group Rank over the last four weeks, with Credit Card
& Payment (#23) and Financial (#29) showing the sharpest improvement. We recommend investors focus on ideas with a rising RS
line that are holding above key moving averages.
O’Neil Global Cryptocurrency Weekly
Cryptocurrency – Technical Overview
Commentary: The crypto market remains in an uptrend. GBTC is down 3% this week, pulling back from its recent high. It is attempting to break out of a stage-four cup base. Pivot: $86.11. Support is at its 21-DMA (2% away; $81.52), followed by its 50-DMA (13% away; $73.84). GBTC has a strong RS Rating of 94 and an Acc/Dist Rating of B-. We recommend adding risk in Bitcoin and the crypto ecosystem.
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 1% last week and is trading 2% off highs. The index remains in a Confirmed Uptrend. We
recommend investors add risk in Brazilian equities.
Mexico’s main benchmark rose 0.7% last week and is trading 1% off highs. The index remains in a Confirmed Uptrend. We
recommend investors add risk in Mexican equities.
Last week, we added Inter & Co. (IP9.BR; INBR32 BR) to the Focus List after the stock broke out of a stage-one, cup-withhandle base. The total number of Focus List stocks in the LATAM region is four.
Stocks of interest: Smartfit (SED.BR; SMFT3 BZ), Itausa Investimentos (IS4.BR; ITSA4 BZ), Corporacion Inmobiliaria Vesta
(VES.MX; VESTA*MM), Qualitas Controladora (QCC.MX; Q*MM) and Gentera (CSV.MX; GENTERA* MM).
O’Neil TMT Weekly
Software (IGV): The software benchmark declined ~3% last week after four consecutive weeks of gains and is testing support at its rising
21-DMA ($100). The IGV is forming the right side of a stage-one cup-with-handle base. Quantitative metrics remain positive, with Up/Down
Volume ratio above 1 and positive numerical Acc/Dist Rating with a letter rating of B-, and rising RS line. Ideas that are setting up include
CDNS, CVLT, GWRE, INTU, NTNX, and PLTR. Seven of the 12 industry groups have shown improvement in Group Rank over the last
four weeks, with Credit Card & Payment (#21) and Desktop (#105) showing the sharpest improvement. We recommend that investors
focus on ideas that are holding above key moving averages with a rising RS line.
O’Neil Global Cryptocurrency Weekly
Commentary: The crypto market remains in an uptrend. GBTC is trading above all major moving averages, including the 200-DMA and 50-
DMA, and is breaking out of a stage-four cup base (pivot: $86.11). GBTC has a strong RS Rating of 94 and an Acc/Dist Rating of B+. We
recommend adding risk in Bitcoin and the crypto ecosystem.
LATAM Weekly Summary
Key points from this week’s report:
Please refer to the attached PDF for the full report.
- Brazil’s Bovespa index gained 1.9% last week and hit an all-time high. The index remains in a Confirmed Uptrend. We recommend investors add risk in Brazilian equities.
- Mexico’s main benchmark rose 2.5% last week and is trading only 1% off highs. The index remains in a Confirmed Uptrend. We recommend investors add risk in Mexican equities.
- Last week, we removed JBS (JBS.BR; JBSS3 BZ) from the Focus List after the stock breached its 50-DMA. The total number of Focus List stocks in the LATAM region is three.
- Stocks of interest: Cyrela (3CY.BR; CYRE3 BZ), Itausa Investimentos (IS4.BR; ITSA4 BZ), Rede Dor Sao Luiz (RD2.BR; RDOR3 BZ), Regional (GFR.MX; RA MM) and Gentera (CSV.MX; GENTERA*MM).
O’Neil TMT Weekly
IG Ranking (as of May 16, 2025)
Software (IGV): The software benchmark gained ~5% last week and is forming the right side of a stage-one cup base. The IGV is trading above all its key moving averages and is 5% off highs, with support at its rising 10-DMA ($101). We continue to see an improvement in quantitative metrics, including Up/Down Volume ratio, which has risen above 1, numerical Acc/Dist Rating, which remains positive along with a letter rating of B-, and rising RS line near its 52-week high. Ideas trading near pivot or setting up include CVLT, MSFT, NTNX, PLTR, and TOST. Eight of the 12 industry groups have had an improvement in Group Rank over the last four weeks, with Desktop (#60) and Credit Card & Payment (#24) showing the sharpest improvement. We recommend that investors focus on ideas that are holding above their key moving averages with a rising RS line.
O’Neil Global Cryptocurrency Weekly
Commentary: The crypto market remains in an uptrend. GBTC is trading above all major moving averages, including the 200-DMA and 50-DMA. Next resistance is at its December 2024 high of $86.11 (5% away). GBTC has a strong RS Rating of 94 and is forming a consolidation base. We recommend adding risk in Bitcoin and the crypto ecosystem.
LATAM Weekly Summary
Key points from this week’s report:
Please refer to the attached PDF for the full report.
- Brazil’s Bovespa index gained 1% last week and continued to trade above all key moving averages. The index is 1% off its 52-week high and remains in a Confirmed Uptrend. We recommend investors to add risk in Brazilian equities.
- Mexico’s main benchmark rose 1.3% last week and is trading 3% off highs. The index remains in a Confirmed Uptrend. We recommend investors add risk in Mexican equities.
- Last week, we added Embraer (EA3.BR; EMBR3 BZ) to the Focus List after the stock retook its 50-DMA. The total number of Focus List stocks in the LATAM region is four.
- Stocks of interest: Lojas Renner (LE3.BR; LREN3 BZ), Inter & Co. (IP9.BR; INBR32 BZ), Rede Dor Sao Luiz (RD2.BR; RDOR3 BZ), Grupo Aeroportuario del Pacifico (GAP.MX; GAPB MM), Gentera (CSV.MX; GENTERA*MM) and Qualitas (QCC.MX; Q* MM
