Sul America (Sula11): First Target Reached (+8.60%)

First target reached (+8.60%)

Our only new directional buy recommendation for March (STOCK GUIDE) oscillated exactly as projected and kept a negative correlation with the IBOV and has just reached our first target at $22.00 (+ 8.60% gain).

Despite the target, there are no signs of exhaustion and we do not see “technical” reasons for reduction of exposure. In this way, we recommend maintenance of exposure and we should seek for stop loss and stop gain adjustments in the next trading sessions.

New positions: we recommend buying around $ 20.50 / $ 21.00 (through daily graphics)

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Written By: Victor Benndorf