Software (IGV): The software benchmark jumped 3% last week to an all-time high and broke out of a stage-two consolidation base.
Quantitative metrics remain constructive over the last week, with Up/Down Volume ratio above 1 and a positive Acc/Dist Rating, indicating
accumulation. Ideas that are either setting up or in the actionable range include ADSK, CDNS, DDOG, NOW, PANW, and PEGA. We
recommend that investors focus on ideas with a rising RS line that are holding above key moving averages.
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: The crypto market remains in an uptrend. GBTC has gained 3% this week and is forming a stage-four cup base with a pivot of
$88.36. Support levels: 21-DMA ($83.83), followed by the 50-DMA ($81.70). GBTC has a strong RS Rating of 93 and an average Acc/Dist
Rating of C+. We recommend investors add 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 0.2% last week and is testing support at its 50-DMA. It remains in an Uptrend Under Pressure with five distribution days. We recommend investors selectively add risk in Brazilian equities.
- Mexico’s main benchmark gained 2.0% last week, and is trading 4% off highs. The index remains in an Uptrend Under Pressure with five distribution days. We recommend investors selectively add risk in Mexican equities.
- The total number of Focus List stocks in the LATAM region remains at four. Embraer (EA3.BR; EMBR3 BZ) and Inter & Co. (IP9.BR; INBR32 BZ) are actionable. MercadoLibre (MELI) is attempting to break out of a flat base.
Stocks of interest: Rede Dor Sao Luiz (RD2.BR; RDOR3 BZ), Azzas 2154 (ARZ.BR; AZZA3 BZ), Nu Holdings (NH3.BR; ROXO34 BZ), B3 (BMF.BR; B3SA3 BZ), Smartfit (SED.BR; SMFT3 BZ), Totvs (TOT.BR; TOTS3 BZ), Chedraui (CHD.MX; CHDRAUIB MM) and Grupo Aeroportuario del Pacifico (GAP.MX; GAPB MM). Additional ideas are listed in page 2
O’Neil TMT Weekly
Software (IGV): The software benchmark rose 2.5% last week and is 2% above its pivot of a stage-one cup-with-handle base. It is 3% off
highs, with support at its rising 10-DMA (-1%). Quantitative metrics remained constructive over the last week, with Up/Down Volume ratio
remaining above 1 and a positive Acc/Dist Rating, indicating accumulation. Ideas that are either setting up or in the actionable range include MNDY, NOW, PANW, PEGA, and QTWO. We recommend that investors focus on ideas with a rising RS line and those that are holding above key moving averages.
O’Neil Global Cryptocurrency Weekly
Commentary: The crypto market remains in an uptrend. GBTC gained 4% this week and reclaimed its 21-DMA. Support levels: 50-DMA ($80), followed by the 100-DMA ($74.8). GBTC has a strong RS Rating of 92 and an Acc/Dist Rating of C. The index recently broke out of its stage-one cup base (pivot; $86.1). 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 traded flat and added two distribution days last week. It remains in an Uptrend Under Pressure with seven distribution days. We recommend investors selectively add risk in Brazilian equities.
- Mexico’s main benchmark declined 2.0% last week and undercut support at the 50-DMA. The index remains in an Uptrend Under Pressure with six distribution days. We recommend investors selectively add risk in Mexican equities.
- The total number of Focus List stocks in the LATAM region remains at four. Embraer (EA3.BR; EMBR3 BZ; ADR: ERJ) is actionable.
- Stocks of interest: Banco Bradesco (DC3.BR; BBDC3 BZ), XP (XPB.BR; XPBR31 BZ), Banco BTG Pactual (BPC.BR; BPAC11 BZ), Cia. de Saneamento de Minas Gerais (CD3.BR; CSMG3 BZ), Smartfit (SED.BR; SMFT3 BZ) and Regional (GFR.MX; RA MM). Additional ideas are listed in page 2.
O’Neil TMT Weekly
Software (IGV): The software benchmark declined 1% last week and is forming the right side of a 28-week base. The IGV is 5% off highs
and is testing support at its 21-DMA ($104). Quantitative metrics have eased with a slight decline in the Acc/Dist Rating (C+). Only three of
the 12 industry groups have shown improvement in Group Rank over the last four weeks, with Database (#69, ORCL) showing the
sharpest improvement, followed by Medical (#20, VEEV) and Gaming (#15, NTDOY). We recommend that investors focus on ideas with a
rising RS line and that are holding above key moving averages.
O’Neil Global Cryptocurrency Weekly
Cryptocurrency – Technical Overview
Commentary: The crypto market remains in a Confirmed Uptrend. GBTC was down 1.3% this week and breached its 21-DMA. Support levels: 50-DMA ($78.2), followed by the 100-DMA ($74.7). GBTC has a strong RS Rating of 93 and an Acc/Dist Rating of C. The index recently broke out of its recent stage-one cup base (pivot; $86.1). We recommend adding risk in Bitcoin and the crypto ecosystem.
Semiconductor Equipment Group Rebounds as Spending Hits a Record in 2026
Global spending on new semiconductor manufacturing equipment is expected to hit a new record in 2026. The attached report from Romeo Alvarez, Research Analyst, Director; Charan Kumar R, Senior Equity Research Analyst; and Saideep Choudhary, Equity Research Analyst, highlights industry trends and top-rated names through 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 rose 0.8% last week after finding support near the 50-DMA. The index remains in an Uptrend Under Pressure. We recommend investors selectively add risk in Brazilian equities.
- Mexico’s main benchmark declined 1.1% last week after hitting resistance at the 21-DMA. It is trading 4% off highs. The index remains in an Uptrend Under Pressure. We recommend investors selectively add risk in Mexican equities.
- The total number of Focus List stocks in the LATAM region remains at four. MercadoLibre (MELI) and Inter & Co. (IP9.BR; INBR32 BZ) are actionable.
- Stocks of interest: Banco Santander Brasil (SAN.BR; SANB11:BZ), Regional (GFR.MX; RA*MM), Grupo Financiero Banorte (GTB.MX; GFNORTEO:MM) and Smartfit (SED.BR; SMFT3:BZ).
