Commentary: We turn positive on the crypto space as GBTC reclaims its 21-DMA and 50-DMA. It is up 11% this week and it is setting up to
break out of a flat base. Pivot: $96.62. Support level: 50-DMA ($90). GBTC has a high RS Rating of 87 and an Acc/Dist Rating of B+.
Meanwhile, ETHE is up 11% so far this week and has regained its 21- and 50-DMA.
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.
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 0.3% last week and is trading only 1% off highs. The index remains in a Confirmed Uptrend with two distribution days. We recommend investors add risk in Brazilian equities.
O’Neil TMT Weekly
Software (IGV): The software benchmark declined ~2% on below average volume and remains near its pivot ($114). The index is 3% off its
all-time high. Support is at the rising 21-DMA ($112), followed by the 50-DMA ($110). Quantitative metrics remain constructive, with
Up/Down Volume ratio above 1 and a positive Acc/Dist Rating. Multiple ideas, including CRWD, CVLT, DDOG, MSFT, NTNX, and ZS, are
forming bases, while ADSK, PEGA, PLTR, TTWO, and VEEV are at or near their pivot. Seven of the 12 industry groups have shown
improvement in Group Rank over the last four weeks, with Database (#22; VRNS) showing the sharpest improvement, followed by
Enterprise (#44; SNOW) and Spec Enterprise (#28; APP). We recommend focusing on ideas with a rising RS line that remain above key
moving averages.
O’Neil Global Cryptocurrency Weekly
Commentary: We remain cautious in the crypto space, as GBTC was down 5% for the week. Support is at the 100-DMA ($87.1), followed
by $80. GBTC has a strong RS Rating of 86 and an Acc/Dist Rating of C. Meanwhile, ETHE was down 11% for the week and has breached
its 50-DMA.
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 2.5% last week and hit a new all-time high. The index remains in a Confirmed Uptrend with only one distribution day. We recommend investors add risk in Brazilian equities.
O’Neil TMT Weekly
Software (IGV): The software benchmark gained 5% and is breaking out of a stage-two, seven-week cup base. The IGV is at its all-time
high with improving quantitative metrics, including an Up/Down Volume ratio above 1 and a positive Acc/Dist Rating. Multiple large cap ideas
including – AXP, CDNS, CRWD, CVLT, PEGA, SHOP, TTWO and ZS – are setting up or near the pivot. Eight of the 12 industry groups
have shown improvement in Group Rank over the last four weeks, with Spec Enterprise (#38, APP) showing the sharpest improvement,
followed by Database (#21, CVLT), Enterprise (#56, PLTR, SHOP), and Credit Card/Payment Processors (#49, AFRM, AXP). We
recommend focusing on ideas with a rising RS line that are holding above key moving averages.
O’Neil Global Cryptocurrency Weekly
Commentary: We turn positive in the crypto space given that GBTC retook its 50-DMA last Friday. It is down 0.5% so far this week, with key
resistance at its recent high of $96.62. Next level of support: 100-DMA ($86.76), followed by the 200-DMA ($80). GBTC has a high RS Rating of 86 and an Acc/Dist Rating of B-. ETHE is down 3.5% for the week, but remains above the 21-DMA and 50-DMA with the next level of resistance at the recent high of $40.14.
LATAM Weekly Summary
Key points from this week’s report:
Please refer to the attached PDF for the full report.
- Brazil’s Bovespa index fell 0.3% last week but continues to trade above all key moving averages. The index remains in a Confirmed Uptrend with only one distribution day. We recommend investors add risk in Brazilian equities.
O’Neil TMT Weekly
Software (IGV): The software benchmark gained ~3% last week and reclaimed its 50-DMA ($109). The IGV is back above all key moving
averages and is 3% off its all-time highs. Quantitative metrics turned constructive, with Up/Down Volume ratio rising to 1 and Acc/Dist
Rating turning positive. Strength was due to large-cap ideas bouncing off support led by ORCL post earning and also includes MSFT and
PLTR. Although most ideas are still basing, select ideas near pivot or setting up include DAVE, INOD, KC, NTNX, and TTWO. Eight of the
12 industry groups have shown improvement in Group Rank over the last four weeks, with Spec Enterprise (#45, APP) showing the
sharpest improvement, followed by Database (#21, ORCL) and Enterprise (#60, NET). We recommend a selective approach with a focus
on ideas with a rising RS line that are holding above key moving averages.
O’Neil Global Cryptocurrency Weekly
Commentary: We remain cautious in the crypto space and will reassess our stance on the retake and hold above its 50-DMA. GBTC is up
2.5% this week. Support is at the 100-DMA ($85.7), followed by $80. GBTC has a strong RS Rating of 86 and an Acc/Dist Rating of C. ETHE
was up 2.1% for the week and is trading above all key moving averages, with the next level of resistance at the recent high of $40.1.
