MGLU3 surges 70% post-election, leads rally; analysts weigh upside

Brazilian retail stocks, led by Magazine Luiza (MGLU3), have rallied nearly 70% since the first round of presidential elections, with MRV and Smart Fit also outperforming. The move reflects market optimism over a potential second-round outcome, but technical analysis suggests stretched valuations and key resistance levels. Uncertainty remains over the final election result and its policy implications.

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