nftrh plus

NFTRH+; Emerging Markets

This ‘+’ update is sent to the entire subscriber base as it is a macro related subject that is reviewed each week in NFTRH.  FYI, another + update (on DBA) was posted (and emailed to opted in subscribers) earlier this morning.

We have been noting the potential Inverted Head & Shoulders on $MSEMF for many weeks now in NFTRH.  Using the EEM iShares, let’s dial it in.

Starting with the weekly chart, which best shows the Inverted H&S, we see EEM creeping above the neckline this week.  If it closes the week this way the measured target objective would be 43.  There is a lot of resistance around 37 on the way, though.  MACD and RSI look very good.

eem

The daily chart shows the support level I would like to see hold in order to keep this a comfortable trade.  But there is a lot of congestion (support) down at the moving averages from 32.50 to 33.50 as well.  MACD and RSI also look okay on the daily.

eem.day

Buy Target:  The breakout around 35.

Sell Target:  43 or anywhere lower that profit is deemed acceptable.

Stop Loss:  Below 34 if making a ‘breakout’ trade, below 32 if investing.

A reminder that chart based NFTRH+ updates are technical trade setup ideas, which may not be revisited as the buy, sell, stop parameters are already noted. They are meant as a starting point for further research if interested. I will not personally buy every item highlighted and will sometimes sell – without prior notice (because this takes time and resource away from NFTRH’s main functions) – any item that I do buy, below target, which is something I often do as a trader. Also please be aware that I am not a fundamental stock analyst. Due diligence is your responsibility.