Banco Bradesco Sa American Depo(NYSE: BBD )

Banco Bradesco S.A, was formerly known as Banco Brasileiro de Descontos S.A., was founded in 1943 and is headquartered in Osasco, Brazil.It operated a network of 3,454 brancehs,30,657 ATMs,and 4,112 special banking service stations and outlets in Brazil.It also has subsidiaries in New York,London,the Cayman Islands,the Bahamas,Japan,Hong Kong,Argentina and Luxemborg. Listed at the New York stock exchange under the financial sector and is a foreign bank.

Chart shows the intraday movement on Friday.

How shall we tackle the intraday movement?

As for newcomers or novice,always wait for the first one hour trading to see the candlestick formation.

Never jump into the bandwagon based on impulse or having an overconfident euphoria.

This is our emotional weakness.Also our home computers can't beat those hedge fund companies who can execute orders at lightning speed. 9:30am-10:30am:-- The stock open with a bullish gap up and followed by a spinning top near the upper shadow.This implies that the candles light is going to be blown off.It then spike down near to the session bear pivot subsequently rebounded near the high to form a double top. Type of candlestick:-Inverted bull.

2nd Hour(10:30am-11:30am:):-- The stock is now hoovering within the bear pivot and MAV resistance,too many doji stars and bearish spin.In this hour you must plot a new session candlestick. Type formed:a graveyard doji.Should you move in yet?the answer is No.If you do have overnight position,bailout now afterall there is still time to manouvere.

3rd Hour:--(11:30am-12:30noon) Wait 5 times and see the index crawl.It opens low and bullish candle forming.Buy now.

4th Hour:(12:30noon-1:30pm) It has rebounded to session bull pivot and was hanging up there for too long.You'll noticed that there are intermittent bearish hammer.So get the hell out of it and make the profit.Do not worry about brokerage,the bottom line is you need to make yourself happy with the slightest profit.

5th hour(1:30pm-2:30pm) Opens at session high and down it goes to the MAV support line. Candle Type:Bearish Marubozu. 6th hour(2:30pm-3:30pm) candle type:A hangman.

Final hours(3:30pm-4:00pm) A bullish inverted hammer. Overall candlestick today:Bearish inverted with a long upper shadow looking to be filled again.

You'll noticed that the March candlestick formation of this stock is similar to that of Dow Jones who are now the dictator of the world's market. Every of the markets in the other parts of the world are also having a similar pattern.

So it is important to monitor the Dow's performance as well in order to get the direction.

Banco Brasileiro is now heading towards the bull resistance line.So for investment purpose can move in any time now.In the case of day traders,it'll be day to day basis.

Dow on Friday is 3 months to QE expiry,15 market days to index futures expiry. Economic Events:Motor vehicles sales,ISM Mfg Index,Construction situation The start of 2nd Quarter.

9:30am:-Bullish 40 points gap up.The US unemployment rate fell for the fourth straight month in March.

10:30am:--Opening gap being completely filled,ascending bulls lift stocks to session high.Bearish engulfing pair follows.

11:30am:--Hammer and hangman dominating at a double top. The Commerce Department reported U.S. factory orders fell in February for the first time in four months.

12:30noon:--Sign of bearish descend. 1:30pm:--There are still sign of hangman harassing the market meantime holding at the bull pivot support line. 2:30pm:--Bearish engulfing,pullback to near day's low.

3:30pm:--After completing the double bottom,bulls managed to bring it back to the MAV resistance line. 4:00pm:--Closing the day at the MAV support and resistance line.

March end month closing saw the Dow forming a bullish dragonfly doji. The bullish strength is still intact and any sign of correction wil be lingering towards March bull pivot support line. Despite the sharp rise in oil price and threats to global economic growth,investors brushed off all these concern. Stocks have made a rapid rebound from a steep, mid-March selloff triggered by Japan’s devastating earthquake and tsunami, the subsequent threat of a meltdown at damaged reactors and the outbreak of a civil war in Libya. Some strategists have said the selloff was overdone, and attention has returned to U.S. deal activity and economic data.