Good news! VIV closed above the 20 dma on a daily chart today! Bad news! It usually takes more than one break of the 20dma to start to turn the trend up!
What I am trying to say is, It looks like VIV is trying to form a bottom, but I want to see it close above the 20 dma for at least 3 days straight to confirm a trend change. The 20 dma needs to start flattening out as opposed to pointing down like it is now before I would feel comfortable with a safe trade. Patience can be profitable.
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