NFTRH+; Barfing Up an Opportunity

BARFS? Get it?

Hat tip goes to Joe if a successful trade/investment develops.

Okay, moving along this is strictly a TA update on BRFS as I did only the bare minimum of fundamental checking, with this failed former vegetarian wannabe buying this meat provider from Brazil (a country we have ID’d as a global inflation/reflation beneficiary).

I chased the daily chart a bit, which I would not do if I were a day trader but would do if I am the balanced portfolio manager that I try to be. BRFS (a really unfortunate and funny symbol) has been rising on thus far declining volume, so a pullback could be upcoming for anyone interested in this stock that is part of the global reflation play. There is a gap just above the SMA 200. But it could just as easily keep going up if the prevailing reflationary wind keeps blowing.

RSI looks good above 50 and its EMA 20 and MACD is close to going positive above zero.

brfs

I did not buy it for the daily chart, however. I bought it after looking at the monthly chart and seeing how far it has dropped in its bear market and noticing the positive RSI and MACD divergences at March low and the secondary low in late October. I feel that this position helps me diversify a bit within the global reflation trades.

A reminder that chart based NFTRH+ updates are technical trade setup ideas, which may not be revisited as the technical parameters are already noted. These updates are meant as a starting point for your further research if interested. I will not personally buy every item highlighted and will sometimes sell (ref. Trade Log) any item that I do buy below target (assuming I’ve not stopped out or sold for some other reason) as I often do. Also please be aware that I am not a fundamental stock analyst. Due diligence is your responsibility.