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.
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.
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.