MSCI All Country Asia ex-Japan Index Fund (AAXJ): Buy At $63.45
Trading Central | Nov 26, 2014 11:39PM ET
*the iShares MSCI AllCountry Asia X Jap (MX:AAXJ) has broken up a bull flag pattern, calling for $65.55 (theoretical Target)
*The short term down trend was broken mid October
Regarding technical indicators:
*the 20-day moving average is crossing above the 50-day moving average, forming a Golden-Cross
On a relative basis against the iShare S&P 500 (ARCA:IVV):
*the iShares MSCI All Country Asia ex-Japan Index Fund (AAXJ) has broken above a declining trend line while a support area has formed around 0.298. Look for a rebound on the ratio AAXJ/IVV.
LAST: $63.45
ENTRY: 63.45 [possible entry area: 62.80 - 63.60]
STOP: 61.50 (-3.07%)
TARGET 1: 65.55 (3.31%)
TARGET 2: 66.55 (4.89%)
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