Itaú Unibanco is Brazil's largest private bank, the result of the 2008 merger between Banco Itaú and Unibanco. In addition to Brazil, the bank has significant operations in Chile, Colombia, Argentina, Uruguay and Paraguay. Itau, like the financial sector, was one of the hardest hit by the pandemic, however we could The company is interesting for being one of the largest and best positioned in Brazil.
Fundamentals: - Value - 22.6% estimated net earnings growth for the next 3 years. - ROE 19.5% VS 8.4% industry.
Technicals: - Price level below SMA 250-200-150 - Williams R% at -85% levels - RSI (26) Oversold -8.5% average upside for the month
A 14% correction was presented from December 14 to January 22 due to the earnings release and market pullback, the fall was stopped at $5.36. From this point, we expect the stock to show a change of trend, although there is a risk of further aggravation of the Brazilian health situation, the company has enough fundamentals to be a buy target. Finally, the technical indicators Williams R, RSI and SMA also offer positive buy signals.
Your SL triggered...! ITUB is quite volatile and SL should atleast 9% below for swing trades....! I am also long with average of 5.40 will add more between 5-5.5 range.