Technical Analysis:
1- A rounded bottom accumulation pattern, which indicates the participation of large investors over time and increases the likelihood of a potential rise.
2- The compression we've seen in recent months increases the probability of a strong upward volatility explosion.
Fundamental Analysis:
1- Crises in Eurasia are escalating (armed conflicts, energy crisis, social conflicts, political corruption, emigration, terrorism, declining standard of living). This is driving tourism towards Latin America, where regional stability has increased in recent years, and where the climate and low prices make it a paradise, especially for Europeans.
2- According to a report by Phocuswright, the travel market to Latin America expanded for the third consecutive year in 2023, with a 29% increase in gross bookings. Given the current climate of uncertainty, we should not expect this trend to change.