Joel Kruger suggests this interesting Equities in his section Equities of interest :
BRF – Brasil Foods S.A. (NYSE: BRFS)
Sticking with Thursday’s pick…Not really a fan of anything emerging markets these days. Tuesday and Wednesday I highlighted my bearishness on a Chinese stock and Thursday and Friday I am sticking with the BRIC and moving over to Brazil. This consumer goods (meats) company has been on fire of late, surging to fresh highs, but once again, it looks as though we could be on the verge of a major technical correction to the downside. Wednesday’s bearish close, followed by Thursday’s break of a sequence of daily higher lows warns of said reversal, and with daily studies well overbought, I would be on the lookout for a pullback into the $19-20 area over the coming sessions. Ultimately, only a close above $23 negates.
