BAP was recommended by Crisis & Opportunity at $91.80 in Investment Digest 697, dated June 15, 2011. BAP closed Friday at $118.92.
“I’m still a believer in Peru, where an investor can find plenty of value. However, it looks like we are getting some headwinds. The Central Bank of Peru recently intervened in the foreign-exchange market to buy 113 million U.S. dollars.
“This has spooked foreign investors. The chart looks like it is rolling over, which is reminiscent of this time last year. The uptrend is broken and we have a MACD crossover above the zero line. That is bearish.
“No one ever went broke taking profits. Bank the gains and we’ll revisit when BAP hits $90.”
- Christian DeHaemer, Crisis & Opportunity, July 20, 2012