I closed out BBD today. I would have normally rode it a little higher but with uncertainty next week on financials I played it safe and took the profits. That is two Brazil stocks I closed today with two remaining.
Upcoming dividend information: Ex-Div-Date: 11/3/16 Payment Date: 12/8/16 Dividend: $0.01 Current Price: $10.22 Annual Yield: 0.58%
Forgot that this is one that you have traded in the past @Tiptopptrader. Entered into a position at $8.12 a couple days ago since there appears to be strong support at $8, plus the 200MA should act as more support as well (currently at $7.86). From following you in the past, I know that Brazilian stocks are extremely volatile/high-risk, so I kept my position small.
Thanks! Sounds stupid, but I was literally just going through random tickers in my excel sheet (which has just about the whole market in it) and looking at charts and this one popped out at me. Hoping to make a fairly quick swing of it and get out since it's high-risk.
This is not a real time chart but lots of room above to climb and a possible gap fill just under 8.50 not to mention one at about 9.80...Good luck on your trade
Not a bad day for BBD Banco Bradesco SA’s (BBD) Buy Rating Reiterated at Citigroup Inc. - Source: http://www.financial-market-news.co...y-rating-reiterated-at-citigroup-inc/1217626/
Dropped below the 200MA and multiple support lines, but did not continue to free fall. Holding it, but watching it closely
Was up most of the day, and then fell late in the day. Dropped further below support, getting real close to cutting my losses on this one.
@Tiptopptrader I saw you sold your position in ELP. I know you have a lot more experience in the Brazilian stocks than I do, any thoughts on this one and SID. I have price target on BBD of $10.35ish as the gap up (blue box above) has started filling. Considering taking profits ahead of the target though if you think the Brazilian stocks are likely to dip sooner rather than later. I only ask because you closed your position in your Brazilian stock recently.
I have done well on the Brazilian plays but they can turn on you fast with political issues and the Real but the rewards have been excellent. Your on the right path on with BBD but I would set a stop at minimum and lock in some profits. I will get back to you on SID later on the SID thread. You have done well on this play!
Thanks for the quick reply, I'll manually monitor a trailing stop and lock in profits if it comes to that.
Starting to fill the gap up (blue box in the picture below). Planning to take some profits at the upper edge of the blue box, and the rest at the upper resistance line (white line in the picture below). Monitoring a potential early exit as the Brazilian market can turn real quick as @Tiptopptrader mentioned above and in previous posts throughout his time here!
Just closed my position in BBD. With the volatility I think is coming in the markets, plus the volatility in Brazilian stocks in general, while I didn't have the patience to wait for my full target, I was able to lock up 19.58% profit. I just sold at $3.70. You can see the blue box I drew in which was the gap fill I was hoping to cover, but I didn't wait for the white resistance line. I hit the resistance of the gap fill, plus the upper BB is just sitting right there. Not a bad trade though making nearly 20%!
