In NFTRH 794 we took a look at the weekly chart of ILF along with:
“LatAm 40 is bullish and one could project a target from this pattern to 33, if not higher. This actually has my interest here and now (or pending noisy FOMC week).”
This morning I pulled up a monthly chart and the picture is not only supportive of the above, it actually would measure to 43 if this break of a long consolidation is real. That target could be measured in a very few years as opposed to months. But FYI for you LatAm fans out there.
Let’s dial the picture out a bit more to view the full consolidation. What’s nice is that there is a handy stop loss to this trade if support at 28 and/or the dotted trend line breakout fail.
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.
