iShares Brazil ETF – Buy Signal?
The iShares Brazil ETF (NYSEARCA: EWZ) is breaking out above a 5-month downtrend line.
This is bullish price action for active investors.
As well, $EWZ is seeing improving relative performance versus the S&P 500 Index.
We would be buyers here of the Brazil ETF (EWZ) as well as Itau Unibanco (ITUB) and Banco Bradesco (BBD) – two stocks we like.
Our upside target on EWZ is $50.
The author may have positions in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
