Argentina Stock Market Index (S&P MERVAL)

The overall recommendation is Buy based on technical indicators and moving averages. An RSI over 70 means it is overbought so caution should be taken. The MACD line is above the signal line which is a bullish hint. The 10-day EMA is above the 20-day EMA which suggests short-term strength. The current price is above the 50-day SMA which is a sign of medium-term strength. The 50-day SMA is under the 200-day SMA, suggesting a longer-term downtrend. The ATR is 79233.31 which gives a sense of the current price volatility.

Argentine stocks including the S&P MERVAL, have experienced significant gains in 2024 with Sandglass Capital Advisors noting increases over 160%, outpacing global benchmarks. Converium Capital reports that the S&P MERVAL has achieved over 100% gains in US dollar terms, surpassing the S&P 500. These positive movements are attributed to President Javier Milei's fiscal policies which have led to a slowdown in inflation, a quarterly fiscal surplus and economic growth. Epyca Consultores and Bullmarket Brokers Research highlight reinforced credibility from bond payment announcements and central bank operations as drivers of positive sentiment for the index. Favorable reports on Argentine banking and utility stocks from J.P. Morgan and Goldman Sachs further support the outlook for the S&P MERVAL.