IBOV increased a lot today and seems that the down tendency is not going to happen on the next days. Does it mean that IBOV is going UP? No... This means that it can go lateral for some days (at least this is better than going down).
As I mentioned many times on my past posts, it was really important that IBOV respected the 50,000 points. If IBOV had gone down this number, it would be much more difficult to buy brazilian stocks.
The good thing is that after 12 days practically between 50.000 and 51.000, IBOV is trying to go up and this will probably increase the number of stocks we can buy.
If it goes more than 52,500, than it would mean that IBOV is not lateral, and it is in a high tendency.
Let's see how it goes.
Best,
Leonardo Monte.
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