B3 Blue Chips Face Technical Adjustments After Weekly Losses
Ibovespa dropped 18.12% post-election, forcing new support levels for Banco do Brasil, Itaú, Petrobras, and Vale
The Brazilian market saw a sharp correction following the second round of elections. The Ibovespa accumulated a loss of 18.12% during this period, forcing a technical reassessment of the most traded assets on the exchange.
Banco do Brasil saw a 33.37% decline for the week and closed the final session at R$ 16.47. The stock fell below key moving averages and entered oversold territory, with the first technical support level located at R$ 16.13.
Itaú Unibanco also faced selling pressure with a 19.69% drop. Petrobras recorded a 9.73% devaluation, while Vale stood out with a slight 0.24% gain despite the downward trend on the daily chart.
This performance gap reveals that each asset faces distinct technical conditions after the broad sell-off. Reclaiming resistance levels is necessary for these stocks to reverse the current selling pressure.
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