Author: Romeo Alvarez

Romeo Alvarez is a senior equity analyst at William O’Neil + Co., a registered investment advisor serving 400 top-performing institutional portfolio managers worldwide. The firm employs 150 associates in Los Angeles, New York, Boston, and London. Based in the firm’s Los Angeles office, Mr. Alvarez is a senior equity analyst covering the Americas region and a member of the Global Focus List Committee, which approves all equity recommendations for developed, emerging, and frontier markets. Romeo also selects equity initiations to be covered in the Technology sector and regularly reports to clients on innovation and technology developments in Trend Watch. Mr. Alvarez earned a B.S. in Business Economics from the University of California, Riverside, and an MBA with a focus in Finance from Loyola Marymount University, Los Angeles.

LATAM Weekly Summary

Posted on by Romeo Alvarez

Key points from this week’s report:

Please refer to the attached PDF for the full report.

 

  • Brazil’s Bovespa index gained 3.9% last week and staged a follow-through day. The index was upgraded to a Confirmed Uptrend from a Rally Attempt. We recommend investors add risk in Brazilian equities.
  • Mexico’s main benchmark rose 7% last week and staged a follow-through day. The index was upgraded to a Confirmed Uptrend from a Rally Attempt. We recommend investors add risk in Mexican equities.
  • The total number of Focus List stocks in the LATAM region remains at three. MercadoLibre (MELI) is actionable.
  • Stocks of interest: B3 (BMF.BR; B3SA3 BZ), Porto Seguro (PSO.BR; PSSA3 BZ), Totvs (TOT.BR; TORS3 BZ) and Grupo Aeroportuario Del Centro Norte (OMA.MX; OMAB MM).

O’Neil TMT Weekly

Posted on by Romeo Alvarez

Software (IGV): The software benchmark gained ~9% last week. It regained support along its 21-, 50-, and 200-DMA. It is 15% off highs,
with next resistance at its 100-DMA (+4%). Quantitative metrics though improved remain weak, Up/Down Volume ratio is below 1 while
Acc/Dist Rating of has turned positive. Ideas that are actionable or setting up and have regained most of their key moving averages include
CRWD, GWRE, PLTR and ZS. Seven of the 12 industry groups have shown improvement in the Group Rank over the last four weeks, with
Design (#116) and Financial (#83) showing the sharpest improvement. We recommend that investors focus on ideas with a rising RS line
and that are holding above key moving averages, while avoiding ideas that are below key support levels.

O’Neil Global Cryptocurrency Weekly

Posted on by Romeo Alvarez

Cryptocurrency – Technical Overview

Commentary: We are shifting the crypto market to a Confirmed Uptrend after GBTC recorded a follow-through day on April 22. GBTC is up 10% this week and is retaking key moving averages, including the 50- and 100-DMA. Next resistance is at its December 2024 high of $86.11. We recommend a gradual approach to adding risk in the crypto ecosystem. MSTR and HOOD screen the best in the crypto ecosystem

LATAM Weekly Summary

Posted on by Romeo Alvarez

Key points from this week’s report:
Please refer to the attached PDF for the full report.

 

Brazil’s Bovespa index gained 1.5% last week after bouncing off support at the 200-DMA. The index remains in a Rally Attempt. We recommend investors wait for a follow-through day before adding risk in Brazilian equities.
Mexico’s main benchmark rose 3% last week and retook support at the 200-DMA and 50-DMA. The index remains in a Rally Attempt. We recommend investors wait for a follow-through day before adding risk in Mexican equities.
Last week, we added Cury Construtora (CCE.BR; CURY3 BZ) to the Focus List after the stock broke out of a consolidation base. The total number of Focus List stocks in the LATAM region is three.
Stocks of interest: Direccional (DIR.BR; DIRR3 BZ), Cyrela (3CY.BR; CYRE3 BZ), Itau Unibanco (IU4.BR; ITUB4 BZ), Totvs (TOT.BR; TOTS3 BZ), Ambev (AVS.BR; ABEV3 BZ) and Coca-Cola Femsa (KFBL.MX; KOFUBL MM)

O’Neil TMT Weekly

Posted on by Romeo Alvarez

Software (IGV): The software benchmark declined slightly (69bps) last week after fading off resistance at the declining 21-DMA ($89).
The IGV is vulnerable to additional downside pressure with the next level of support near early April lows ($75). Overall, quantitative
metrics remain poor with RS line near year-to-date lows and Acc/Dist Rating of E. Only a few ideas are consolidating above key
moving averages including CRWD, TTAN, and TTWO. However, most software constituents are under distribution and trading below
their 200-DMA. We recommend investors take a cautious approach and trim exposure should ideas break below key support levels.

O’Neil Global Cryptocurrency Weekly

Posted on by Romeo Alvarez

Commentary: GBTC is up 0.5% this week and is holding above support at the 200-DMA. It has near-term resistance at its 50-DMA ($68.88;
3% away). Following the same trend as the Nasdaq, the crypto market remains in a Rally Attempt. We remain cautious on crypto and on
stocks within the crypto ecosystem until GBTC records a follow-through day.

INDIAN ELECTRONICS MANUFACTURING REPORT

Posted on by Romeo Alvarez

Key Points:

 

  • iPhone assembly in India is ramping up. Apple already manufactures 20% of all iPhones in India. We believe that tariffs concerns will accelerate the shift in production from China to India. According to reports, Apple has an aggressive target of manufacturing 50% of all iPhones in India by 2027. We believe Apple’s rising investments in India is likely to set a trend, encouraging other global electronics OEMs to expand their manufacturing presence there.
  • India’s electronics exports are scaling rapidly, with the U.S. emerging as a key growth driver. Overall, exports are expected to register a 41% CAGR during FY24–FY28.
  • Indian Electronics Manufacturing Services (EMS) stocks are poised to benefit from this shift. Companies like Dixon (DIX.IN), Kaynes (KT1.IN), Amber (BEI.IN), PG Electroplast (PGE.IN), Syrma (SS9.IN), and Avalon (AVT.IN) are strategically positioned to capitalize on this growth.
  • Top pick: Dixon (DIX.IN) is the only domestic player with exposure to mobile phone manufacturing with high profile customer base of Samsung, Xiaomi, Motorola, and others.

LATAM Weekly Summary

Posted on by Romeo Alvarez

Key points from this week’s report:

Please refer to the attached PDF for the full report.

 

  • Brazil’s Bovespa index gained 0.3% last week and is attempting to retake its 200-DMA. The index was shifted to a Rally Attempt from a Correction. We recommend investors wait for a follow-through day before adding risk in Brazilian equities.
  • Mexico’s main benchmark index was flat last week. It is trading 11% off highs and is below the 200-DMA. The index was shifted to a Rally Attempt from a Correction. We recommend investors wait for a follow-through day before adding risk in Mexican equities.
  • Last week, we added JBS (JBS.BR; JBSS3 BZ) to the Focus List, taking the total number of FL stocks in the LATAM region to two.
  • Stocks of interest: Coca-Cola Femsa Ubl (KFBL.MX; KOFUBL MM), Itau Unibanco (IU4.BR; ITUB4 BZ), Cury Construtora (CCE.BE; CURY3 BZ) and BB Seguridade (BBS.BR; BBSE3 BZ).

O’Neil Global Cryptocurrency Weekly

Posted on by Romeo Alvarez

Commentary: GBTC is in a Rally Attempt. GBTC is down 5.3% this week and is currently testing support at the 200-DMA ($63.00). It has
near-term resistance at its 21-DMA ($66.05; 5% away). We remain cautious on the crypto market and on stocks within the crypto ecosystem
until GBTC records a Follow Through Day.