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MSCI Brazil Index Fund: Buy At $42.86

Published 08/08/2013, 01:38 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 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.
MSCI Brazil Index

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