SPOTLIGHT BRAZIL: Vale S.A. (NYSE – US$) – BOVESPA Index (Brazil)
​VALE S.A. - Last November’s Idealised downside targets towards 3.25 were exceeded with an ultimate low trading to 2.13. WaveTrack's analysis indicates that this equity has the potential for a progressive upside recovery during the next few years.
Bovespa Index - There may be reason to be more optimistic though for Vale S.A. Downside targets forecast over three years ago for Brazil’s Bovespa Index have been touched to exact levels, both in local REAL currency terms and when converted into US$ dollars. Both Elliott Wave counts depict a three wave counter-trend phase completing into the Jan.’16 lows with no discrepancies of Fibonacci-Price-Ratio (FPR) measurement.
WaveTrack International provides bespoke intelligence for Asset Management Corporations, Pension Funds, Total/Absolute-Return/ Hedge Funds, Sovereign Wealth Funds, Corporate and Market-Making/Trading institutions. The ‘deterministic’ qualities of the methodology used often translates into results that are dynamic and – outside consensus estimates. This is suitable for individuals who seek unbiased market research which is ‘technical, quantitative and strategic’ for their investment decision making. WaveTrack’s analysis and research is especially relevant for medium/long-term investment strategies.
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