The dollar is one of the main variables affecting pulp and paper companies in Brazil. We've seen the USD/BRL drop from 6.20 to 5.60, which contributed to the decline of KLBN11.
Currently, the asset is showing a 9- and 21-period moving average crossover, with the potential formation of a bullish pivot.
If it breaks above the R$19.00 level, it opens upside targets at R$19.86, R$20.38, and R$21.22.
The stop-loss is set at R$17.60.
Currently, the asset is showing a 9- and 21-period moving average crossover, with the potential formation of a bullish pivot.
If it breaks above the R$19.00 level, it opens upside targets at R$19.86, R$20.38, and R$21.22.
The stop-loss is set at R$17.60.
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