[Opening Position in Banco Bradesco SA (BBD)]
Dear Member:
Banco Bradesco SA (BBD) is a Brazilian bank whose share price recently formed a new support. The stock has been in an uptrend since March and there is some added interest in Brazilian equities since Standard & Poor's recent raising of Brazil to investment grade.
The stock is bouncing up off an intersection of price and trend support on the daily chart. I am placing an order to buy shares at a limit of $23.25. If filled, my initial exit in the event I am wrong on direction would be on a close below the trend (currently around $22.34).
DISCLOSURE: At the time of publication, I have no position in BBD.
Sincerely,
Bill Kraft
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