Five Indicators Say Buy EEM
06/30/2009 12:01 am EST
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.
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