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The News Bulletin 247 team offers a bullish stock market scenario for a country with immense potential, Brazil, excellently positioned in the agricultural raw materials, metals, oil and banking sectors.
The financial tool that will allow you to invest in this country-continent is the evocative mnemonic code tracker “RIO”. An ETF-type financial product that reflects the BOVESPA spot market, iBOVESPA, the benchmark index of the São Paulo Stock Exchange, the financial capital of South America.
Under these conditions, we will bet, through the acquisition of this tracker (ETF), on purchasing inclinations on the global raw materials market (in particular sugar, soya, orange), as well as on a continued rise in prices. oil, a sector in which Brazil is structurally a major player at the global level, particularly in drilling offshoreexpertise that only a handful of powers on the planet have. Speaking of a very exclusive club, the country is part of the one that sends men into space.
A country which benefits from a spotlight when the G20 will be held there. Dina Ting, CFA and Head of Portfolio Management at ETF Franklin Templeton, offers the following comments ahead of the intergovernmental forum:
‘Besides the G20, Brazil is also expected to host other high-profile events, such as the United Nations Climate Change Conference (COP30) and the BRICS (Brazil, Russia, India, China and South Africa) summit. in 2025, even as it seeks to join the Organization for Economic Cooperation and Development (OECD).”
“The country has taken many steps towards this goal since it began its formal membership process almost three years ago. If accepted, it will be uniquely positioned to influence the growing geopolitical and economic competition between the developed and developing countries, since it will be the only nation to belong to BRICS, G20 and OECD at the same time.”
KEY GRAPHIC ELEMENTS
After a summer correction, the ETF managed to quickly regain its 50-day moving average (in orange), the underlying trend curve around which it surrounds itself. An exit from the top of a congestion zone, after gaining support on the lower limit of the Bollinger bands, would release an upward potential towards 22 euros.
FORECAST
In view of the graphic elements mentioned, the News Bulletin 247 team suggests that active investors take a purchasing position on the LYXOR ETF IBOVESPA tracker, at the current price, with €22.0000 in their sights. A protective stop must be placed at €17.8900.
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