Emerging Markets Are Falling And They Can't Get Up
InTheMoneyStocks.com | May 17, 2018 03:07PM ET
The popular iShares ETF (NYSE:EEM) topped out on January 26, 2018 along with the major stock-market indexes. EEM's January peak was $52.08 and since that high in the share price, it has tumbled. Currently, the ETF is trading down by 0.54 cents to $46.64 a share.h3 Critical Support/h3
At this time, the EEM is holding and trading just above its important 50-week moving average. Should price close below this major moving average, the next critical support area will be around the $42.75 level. This support area would be a major retrace level where the equity broke out in August 2017. Often, major breakout levels will serve as major support when retested. Keep $42.75 on your radar for the EEM.
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