MSCI Spain Capped ETF Facing Key Support

Published 08/30/2013, 02:02 AM
Updated 07/09/2023, 06:32 AM

From a technical view, the iShares MSCI Spain Capped ETF (EWP) is facing a key support area (declining trend line and rising 20-week moving average) which should spark a rebound. Regarding technical indicators, the weekly MACD is above its signal line and the weekly RSI is approaching its neutrality area which should act as a support. On a relative basis against the IVV S&P500, the iShares MSCI Spain Capped ETF has pushed above a key bearish trend line and looks set for a bounce. Trading strategy: Buy @ $31 - Stop loss @ $29.75 - Target @ $37.95
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