Oversold! Start looking for an entry point (or raise exposure)
Cosan SA Industria e Comercio (SA:CSAN3) is oscillating as projected with a short-term corrective movement pushing the stock to our projected support at $36.00 reais (we must remember that we have sent an exposure reduction recommendation in our March Stock Guide).
The $ 36.00 reais represents a strong support line and the stock must defend this level to maintain a positive technical setup and the BULLISH recommendation.
Buying strategy: the current level represents the best “risk x return” within the trend and a bullish reversal above $36,00 reais opens a new buying opportunity with a $ 44.00 target (+ 17.00% uptrend).
For those who are positioned, we recommend maintaining position with an adjusted stop at $ 35.50 (partial reduction or sell position).
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