High conviction buy on text-book bullish island reversal with significant trading volume increase and bounce off lower band of upward parallel price channel, also with significant volume. The pattern emerge as the company announced the sale of one of its assets (the Portonave port for 1,3B BRL), significantly deleveraging the balance sheet as part of an asset sale plan that, if fully materialized, will be transformational for the company. My two favorite and trusted independent research publications see more than 100% upside.
Trade active
Very successful trade so far. Adding stop loss (at profit) at 3.85. If upper band of parallel channel broken, there may be significant upside. Fundamentally, there may still be a 200% upside, but will take time to materialize.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.