Asia Ex Japan ETF: A Fresh Break Lower
Mike Macdonald | Nov 27, 2014 12:29AM ET
Asia Ex Japan ETF (NASDAQ:AAXJ) Relative To All Countries World ETF (NASDAQ:ACWI) Into The End Of The Year
Recent stabilisation has given way to a fresh break lower, with prices expected to remain weak into December. Focus is now on trendline support from late 2008, and with the RSI also turning lower, a test of here cannot be ignored. A break cannot be ruled out, with a more significant period of Underperformance then confirmed. A break above the moving average would help to stabilise price action, but this currently looks unlikely..
Money managers can adopt an Underweight stance to Asia ex Japan into the end of the year.
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