EEM Trading At 6 Month Lows
Petros Steriotis | Oct 20, 2014 05:52AM ET
The iShares MSCI Emerging Markets (ARCA:EEM) is trading at 6-month lows, below its 200-day MA, which is indicative of the bad technical picture. A price rebounds could stop in the 42 area before a resumption of the downmove. EEM has seen lots of volatility in the last two years, with a W-shaped move, but despite all that it is practically trading within a huge price range between 35 and 45. EEM and its consituents are per se more volatile than other stock indices, so when global markets get hit and uncertainty reigns, EEM can be profitably played from the short side.
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