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iShares MSCI Brazil Index Fund: Buy At $42.93

Published 07/16/2013, 01:30 AM
Updated 07/09/2023, 06:32 AM
IBRX
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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 is posting a bullish divergence while the daily MACD is pushing 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 way oversold and a corrective recovery should happen in the short term.

Trading strategy: Buy at $42.93 - Stop loss at $40.50 - Target at $48
MSCI

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