Intramarket: IFCM3 and Market Strength
What does this mean? Unlike yesterday, today we see more peaks — before the close of trading — at values above the opening, which was identical to yesterday’s. In short, it’s as if the stock is attracting extra attention toward an uptick in its quoted price.
In other words, the flow of trades has shown positive momentum, despite neutral overall variation, such that an accumulation is forming among those looking to transact at prices above 0.45 BRL.
This is a clear signal that investors are already adjusting to reject deeper price drops below this presented value — the opening price — and therefore, in the next wave of market expansion in trading — as is happening today — it is both possible and highly likely that the price will break the 0.47 BRL ceiling, something that could be quite certain within seven days or on a strong day when broader indices are positive, especially the IBOVESPA, which now registers a +2.39% change.
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