The CSI 300 fell 0.11% on lower but still above average volume this week. The market remains in an Uptrend Under Pressure with four distribution days. The index continued to consolidate around the 200-DMA (~5,120, +0.6%) with no clear support until May’s low of ~4,900 (-3.7%). The index faces next resistance at 100-DMA (5,133, +0.9%), 21-DMA (~5,140, +1.0%), and 50-DMA (~5,180, +1.8%).
Symbol: BPC.BR
Global Focus Emerging
The CSI 300 gained 0.5% on much higher and above average volume this week. The market remains in an Uptrend Under Pressure with four distribution days. The index continued to consolidate around the 200-DMA (~5,110, +0.3%), with no clear support until May’s low at ~4,900 (-3.8%). The index faces resistance at the 21-DMA (~5,140, +0.9%), 100-DMA (~5,150, +1.1%), and 50-DMA (~5,170, +1.5%).
Global Focus Emerging
The CSI 300 fell 0.23% on higher and above average volume this week. The market remains in an Uptrend Under Pressure with the number of distribution days decreasing to four. The index traded around the 200-DMA (5,095, +0.5%), with no clear support until May’s low of ~4,900 (-3.3%). The index faces resistance at the 21-DMA (~5,150, +1.6%), 50-DMA (~5,170, +2.0%), and 100-DMA (5,180, +2.2%).
Global Focus Emerging
The CSI 300 fell 3.03% on lower and below average volume this week. The market remains in an Uptrend Under Pressure with the number of distribution days increasing to five. The index traded around the converged 21- and 100- DMA (~5,200, +2.3%) for four sessions but Friday gapped down to open below these two key support levels and breached the 50-DMA (~5,170, +1.8%) and 200-DMA (5,085, +0.1%) with no clear support until May’s low at ~4,900 (-3.6%).
Global Focus Emerging
The CSI 300 rose 2.69% on higher but below average volume this week. The market remains in an Uptrend Under Pressure with the number of distribution days decreasing to four. The index retook the 50-DMA (~5,150, -1.7%) and converging 21-DMA and 100-DMA (~5,220, -0.4%), with the next support at the 200-DMA (5,076, -3.1%). Resistance lies at May’s high of ~5,380 (+2.7%).
Global Focus Emerging
The CSI 300 fell 2.34% on lower and below average volume this week. The market was shifted to an Uptrend Under Pressure Wednesday with the number of distribution days decreasing to five. The index breached below the 50-DMA (5,140, +0.7%) on much higher volume, with immediate support at its 200- DMA (~5,060, -0.8%). Resistance lies at the converging 21-DMA and 100- DMA (~5,240, 2.7%) followed by May’s high at ~5,380 (+5.4%).
LATAM Weekly Summary
Key points from this week’s report:
Please refer to the attached PDF for the full report.
- Brazil’s Bovespa benchmark declined 0.5% last week. It remains in a Confirmed Uptrend with five distribution days. Although many leading names are now extended from proper entry points, we continue to have a positive view on Brazilian equities.
- Mexico’s benchmark index rose 1.6% last week. It continues to hit new 52-week highs and remains in a Confirmed Uptrend with four distribution days.
- The total number of stocks on our Latin America Focus List remains at 10. Banco BTG Pactual (BPC.BR; BPAC11:BZ) and Pet Center Comercio (PCC.BR; PETZ3:BZ) are actionable. Meanwhile, Banco Pan (PMP.BR; BPAN:BZ) flashed a climax top alert.
- Stocks of interest include Cosan (COS.BR; CSAN3:BZ), Totvs (TOT.BR; TOTS3:BZ), Grupo De Moda Soma (GD1.BR; SOMA3:BZ), Vivara (VPO.BR; VIVA3:BZ), Multiplan (MUL.BR; MULT3:BZ), and Fomento Economico Mexicano (FMU.MX; FEMSAUBD:MF). Additional names are listed on page 3.
Global Focus Emerging
The CSI 300 fell 1.09% on slightly lower and below-average volume this week. The market remains in a Confirmed Uptrend with six distribution days. The index was trading around its 100-DMA this week and breached below its 100-DMA and the rising 21-DMA (~5,250, +0.5%) on much higher volume Friday. Next support is at the 50-DMA (~5,140, -1.6%) and next resistance is at May highs of ~5,380 (+3%).
Global Focus Emerging
The CSI 300 fell 0.73% on lower and below-average volume this week. The market remains in a Confirmed Uptrend with six distribution days. The index managed to trade above its 100-DMA (~5,260, -0.4%). Next support is at the 21-DMA (~5,190, -1.75%). The index will face strong resistance as it attempts to test all-time highs of 5,930 (+12%) in February.
Global Focus Emerging
The CSI 300 rose 3.64% on higher and above average volume this week. The market was shifted to a Confirmed Uptrend Tuesday with the number of distribution days rising to 6. The index broke above two-month resistance at its 100-DMA (~5,250, -1.6%) with no clear resistance until January’s consolidation are at 5,300–5,600. Next support lies at the 21-DMA (5,145, -3.3%).
