MSCI Brazil Index Fund: Buy At $42.86
Trading Central | Aug 08, 2013 01:38AM ET
From a technical view, the ETF has broken above a declining trend line which has been in place since May 2013. Regarding technical indicators, the daily RSI has validated a bullish divergence and the daily MACD has pushed above its signal line (first time since May 2013) providing another bullish argument. On a relative basis against the IVV S&P500, the iShares MSCI Brazil Index Fund is reversing up from a support area and looks set for a rebound.
Trading strategy: Buy at $42.86 - Stop loss at $41.75 - Target at $47.5.
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