Software (IGV): The software benchmark gained ~3% last week and reclaimed its 50-DMA ($109). The IGV is back above all key moving
averages and is 3% off its all-time highs. Quantitative metrics turned constructive, with Up/Down Volume ratio rising to 1 and Acc/Dist
Rating turning positive. Strength was due to large-cap ideas bouncing off support led by ORCL post earning and also includes MSFT and
PLTR. Although most ideas are still basing, select ideas near pivot or setting up include DAVE, INOD, KC, NTNX, and TTWO. Eight of the
12 industry groups have shown improvement in Group Rank over the last four weeks, with Spec Enterprise (#45, APP) showing the
sharpest improvement, followed by Database (#21, ORCL) and Enterprise (#60, NET). We recommend a selective approach with a focus
on ideas with a rising RS line that are holding above key moving averages.
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.
O’Neil Global Cryptocurrency Weekly
Commentary: We remain cautious in the crypto space and will reassess our stance on the retake and hold above its 50-DMA. GBTC is up
2.5% this week. Support is at the 100-DMA ($85.7), followed by $80. GBTC has a strong RS Rating of 86 and an Acc/Dist Rating of C. ETHE
was up 2.1% for the week and is trading above all key moving averages, with the next level of resistance at the recent high of $40.1.
LATAM Weekly Summary
Key points from this week’s report:
Please refer to the attached PDF for the full report.
- Brazil’s Bovespa index gained 0.9% last week and made a new all-time high. The index remains in a Confirmed Uptrend with only one distribution day. We recommend investors add risk in Brazilian equities.
O’Neil TMT Weekly
Software (IGV): The software benchmark continues to consolidate below its 50-DMA ($109). The IGV is 6% off its all-time highs, with next
level of support near the rising 100-DMA ($105). Quantitative metrics remain weak, with Up/Down Volume ratio below 1 and a negative
Acc/Dist Rating. Most constituents are basing, however, select ideas – ADSK, AXP, STNE, and TTWO – are setting up or near pivot. Six of
the 12 industry groups have shown improvement in Group Rank over the last four weeks, with Database (#30, MDB) showing the sharpest
improvement, followed by Spec Enterprise (#52, APP) and Design (#38, U). We recommend a patient approach, focusing on ideas with a
rising RS line that are holding above key moving averages.
O’Neil Global Cryptocurrency Weekly
Cryptocurrency – Technical Overview
Commentary: We remain cautious in the crypto space and will reassess our stance if GBTC is able to retake its 50-DMA ($90). GBTC is up 2% this week. Support is at the 100-DMA ($84.79), followed by the 200-DMA ($79). GBTC has mixed technical ratings: high RS Rating of 87 and an average Acc/Dist Rating of C. Meanwhile, ETHE was down 1.3% for the week and is testing support at its 21-DMA.
LATAM Weekly Summary
Key points from this week’s report:
Please refer to the attached PDF for the full report.
• Brazil’s Bovespa index rallied 2.5% last week and made a new 52-week high. The index remains in a Confirmed Uptrend. We recommend investors add risk in Brazilian equities.
O’Neil TMT Weekly
Software (IGV): The software benchmark continues to consolidate below its 50-DMA ($109). The next level of support is near the rising
100-DMA ($104). Quantitative metrics remain weak, with Up/Down Volume ratio below 1 and a negative Acc/Dist Rating. Most constituents are basing. However, select payment ideas – MA, STNE, and TOST – are setting up or near pivot, while SNOW and ADSK are worth monitoring as they posted better-than-expected results. We recommend a patient approach, with a focus on ideas with a rising RS line that are holding above key moving averages.
O’Neil Global Cryptocurrency Weekly
Commentary: We remain cautious in the crypto space, as GBTC is down more than 4% this week. It has breached its 21- and 50-DMA.
Support levels are at the 100-DMA ($84), followed by the 200-DMA ($79). GBTC has mixed technical ratings: good RS Rating of 87, declining RS Line and an Acc/Dist Rating of C-. Meanwhile, ETHE is down more than 8% for the week. Support level: 21-DMA ($35).
LATAM Weekly Summary
Key points from this week’s report:
Please refer to the attached PDF for the full report.
- Brazil’s Bovespa index gained 1.2% last week and recorded a Follow-Through Day. The index was upgraded to a Confirmed Uptrend from a Rally Attempt. It is trading 2% off its 52-week high. We recommend investors add risk in Brazilian equities.
- Mexico’s main benchmark rose 1.6% last week and continues to trade above all its key moving averages. The index remains in a Confirmed Uptrend with only one distribution day. We recommend investors add risk in Mexican equities.
- Rede Dor Sao Luiz (RD2.BR; RDOR3 BZ) was added to the Focus List after it broke out of a cup base, taking the total number of Focus List stocks in the LATAM region to five. Inter & Co. (IP9.BR; INBR32:BZ) is actionable.
- Stocks of interest: Auren Energia (AE6.BR; AURE3:BZ), Banco Btg Pactual (BPC.BR; BPAC11:BZ), Marcopolo (RL4.BR: POMO4:BZ), Grupo Cibest (BCB.CO; PFBCOLO:CB), Banco de Credito e Inversion (CRT.CL; BCI CI), Industrias Penoles (PA2.MX; PENOLES*:MM) and Gentera (CSV.MX; GENTERA*:MM). Additional ideas are listed on page 2.
O’Neil TMT Weekly
Software (IGV): The software benchmark is consolidating below its 50-DMA ($109) followed by the next level of support near ~$104
and the rising 100-DMA ($103). Quantitative metrics remain weak, with Up/Down Volume ratio of below 1 and a negative numerical
Acc/Dist Rating. Large-cap leaders- MSFT, ORCL, PLTR, SHOP, and RBLX – have pulled back and are testing support near their
key moving averages. Select ideas – VEEV, FROG, and MA – are bucking the overall weakness across software groups and are
trading near pivot ranges. We recommend investors focus on ideas with a rising RS line that are holding above key moving averages.
