Five Indicators Say Buy EEM

06/30/2009 12:01 am EST

Focus: ETFS

The iShares MSCI Emerging Markets ETF (EEM), which is designed to measure equity market performance in the global emerging markets, contains a number of the technical characteristics that indicate that this investment will probably be successful.



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Note the major breakout from the triple top, which became a bullish cup-and-handle, the gold cross, a buy signal from our internal indicator, the Collins-Bollinger Reversal (CBR), and Moving Average Convergence/Divergence (MACD) turning and near a buy signal.

The target is close to its 2008 high of $50.

By Sam Collins of OptionsZone.com

 

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