Symbol: BPC.BR

LATAM Weekly Summary

Posted on by Romeo Alvarez

Key points from this week’s report:

Please refer to the attached PDF for the full report.

  • Brazil’s Bovespa gained 1.3% last week. The Brazilian market was shifted to an Uptrend Under Pressure from a Confirmed Uptrend as it recorded its fifth distribution day last week. We recommend clients be more selective when adding risk in Brazilian equities.
  • Mexico’s benchmark index rallied 2.5% last week. It is now trading just below its 50-DMA. The Mexican market was upgraded to a Rally Attempt. We recommend clients wait for a follow-through day before adding risk in Mexican equities.
  • We have one stock on our Focus List: Hypermarcas (HYP.BR; HYPE3:BZ), which is currently actionable.
  • Stocks of interest: Arezzo (ARZ.BR; ARZZ3:BZ), MRV (MRV.BR; MRVE3:BZ), Cyrela (3CY.BR; CYRE3:BZ), Vivara (VPO.BR; VIVA3:BZ), MercadoLibre (MELI), Lojas Renner (LE3.BR; LREN3:BZ), Grupo de Moda Soma (GD1.BR; SOMA3:BZ), Banco Do Brasil (IO3.BR; BBAS3:BZ) and Arca Continental (ARC.MX; AC*:MM).

LATAM Weekly Summary

Posted on by Romeo Alvarez

Key points from this week’s report:

Please refer to the attached PDF for the full report.

  • Brazil’s Bovespa index declined 1.3% last week. The Brazilian market is in an Uptrend Under Pressure with four distribution days. We recommend clients be selective when adding risk in Brazilian equities due to the high number of distribution days.
  • Mexico’s main benchmark fell 2.9% last week and made a new 52-week low. The Mexican market was shifted to Downtrend from an Uptrend Under Pressure. We recommend clients avoid adding risk in Mexican equities.
  • We have one stock on our Focus List: Hypermarcas (HYP.BR; HYPE3:BZ), which is currently actionable.
  • Stocks of interest: Arezzo (ARZ.BR; ARZZ3:BZ), Petro Rio (HRT.BR; PRIO3:BZ), Grupo de Moda Soma (GD1.BR; SOMA3:BZ) and Rumo (P3M.BR; RAIL3:BZ).

LATAM Weekly Summary

Posted on by Romeo Alvarez

Key points from this week’s report:

Please refer to the attached PDF for the full report.

 

  • Brazil’s Bovespa benchmark fell 2.6% last week and is 21% off highs. The market remains in a Downtrend. We recommend that investors trim exposure to Brazilian equities.
  • Mexico’s benchmark index declined 1.1% last week. It is currently testing support at the 50-DMA. The Mexican market remains in a Confirmed Uptrend with five distribution days.
  • We removed Banco BTG Pactual (BPC.BR; BPAC11:BZ) from our Emerging Markets Focus List. The total number of Focus List stocks in the LATAM region is down to two. None are actionable.
  • Stocks of interest include JBS (JBS.BR; JBSS3:BZ), Marfrig (MFA.BR; MRFG3:BZ), Sao Martinho (SAO.BR; SMTO3:BZ), America Movil (AML.MX; AMXL:MM), Grupo Aeroportuario del Sureste (AUS.MX; ASURB:MM), and Grupo Aeroportuario del Pacifico (GAP.MX; GAPB:MM). Additional names are listed on page 3.

Market View

Posted on by Raj Gupta

The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq have now both broken out to new
all-time highs. There are multiple levels of support below current prices, including the prior highs (S&P 500:
4,545; Nasdaq: 15,403) before the sharply rising 10- and 21-DMA. Distribution has mostly been avoided for
two weeks with the count at five and four, respectively, with three expiring on each next week.

Global Focus Emerging

Posted on by Midhun Parameswaran

The CSI 300 gained 0.56% on lower and below average volume and remains in an Uptrend Under Pressure with four distribution days. The index traded around its converging 21- and 50-DMA (~4,900, -1.2%) for the week. Resistance remains at previous highs near 5,000 (+0.8%) and next support is at July 28’s low (~4,664, -6.0%).

Won Global View

Posted on by admin

The U.S. market remains in a Confirmed Uptrend. The S&P 500 touched another new all-time high while the Nasdaq continues to climb
and is within 1% of a new high. Use the rising 10-DMA (S&P 500: 4,498; Nasdaq: 15,003) as the first level of support, followed by the 50-
DMA (S&P 500: 4,447; Nasdaq: 14,907). The distribution day count stands at five days on each index.

Global Focus Emerging

Posted on by Midhun Parameswaran

The CSI 300 gained 0.56% on lower and below average volume and remains in an Uptrend Under Pressure with four distribution days. The index traded around its converging 21- and 50-DMA (~4,900, -1.2%) for the week. Resistance remains at previous highs near 5,000 (+0.8%) and next support is at July 28’s low (~4,664, -6.0%).

Global Focus Emerging

Posted on by Midhun Parameswaran

The CSI 300 ended flat with a modest gain of 0.04% on below average volume. The market remains in an Uptrend Under Pressure with five distribution days. The index was consolidating around its 21- (~4,901, -0.6%) and 50-DMA (~4,899, -0.7%) with resistance at previous highs of ~5,000 (+1.4%) and support at July 28’s low (~4,664, -5.4%).

Global Focus Emerging

Posted on by Midhun Parameswaran

The CSI 300 gained 1.31% on higher but below average volume on Friday, the only trading session in this holiday-shortened week. The market remained in an Uptrend Under Pressure with six distribution days. The index retook its converging 21- and 50-DMA (~4,900; -0.6%). Next resistance lies at the 100-DMA (~5,038; +2.1%) and support lies at the low of July 28 (~4,664; -5.7%).