Missed Mardi Gras in Rio? Não Há Problema.

Mardi Gras was a couple of weeks ago but if you just could not find time to get down to Rio for the real celebration there is still a bit of Brazil you can celebrate right here at home. Brasil Foods, $BRFS, has been setting up in a long Cup and Handle pattern for several weeks. Thursday it broke a major trigger signaling a long entry.


The chart above illustrates the Cup and Handle. The target for the pattern is a move higher to 32.00. The trigger today came with a move over 22.81, the previous high from January 25th. If you need any more coaxing the Relative Strength Index (RSI) is bullish and rising with a Moving Average Convergence Divergence indicator (MACD) that has the signal line moving back higher and the histogram crossed to positive and Bollinger bands opening higher. Enter on a move and hold over 22.81 and look to stop it at the gap below at 22.05.

Join the Dragonfly Capital Views Premium Membership

Sign up here to get deeper analysis and nearly 50 trade ideas every week.

Dragonfly Capital Views Performance Through February 2013 Expiry

If you like what you see above sign up for deeper analysis and trading strategy by using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits page.

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

blog comments powered by Disqus
Dragonfly Caps Blog