Bull Do Brasil

EWZ on fire

Last January (here) we flagged Brazil as one of the most bombed-out assets to watch, citing SentimenTrader on January 4, 2025: “Over the past 20 years… essentially a 100% win rate when holding for one year.” Since then, EWZ is up roughly 60%, with momentum remaining strong. That said, price is now pressing into the upper end of the long-term trend channel and RSI is stretched. A short-term pause looks likely, but this still shapes up as a buy-the-dip asset.