Trading Idea - Entry Levels for MSCI Emerging Markets Index Fund
Published on Friday, 23 December 2011 09:00 Written by Danny Miller
New York, December 23rd (TradersHuddle.com) - Shares of MSCI Emerging Markets Index Fund (NYSE:EEM) ended close to calculated support at $36.48 with current price action placing the stock near levels that will raise attention of traders looking for an entry point.
MSCI Emerging Markets Index Fund (NYSE:EEM) is a fund that corresponds to the price and yield performance, before fees and expenses, of securities that are publicly traded in emerging markets, as represented by the MSCI Emerging Markets Index. The underlying index attempts to gauge the performance of equities in emerging markets globally.
Traders wanting to establish a position should pay close attention to MSCI Emerging Markets Index Fund's price action, and establish a position as close to support as possible, but only after buying materializes. Traders should understand that the resistance point at $40.59 might limit their upside, however if the stock breaks resistance, it could be a good point to add to the position.
Shares of MSCI Emerging Markets Index Fund closed at $38.34 in the previous trading session.MSCI Emerging Markets Index Fund (NYSE:EEM) is a fund that corresponds to the price and yield performance, before fees and expenses, of securities that are publicly traded in emerging markets, as represented by the MSCI Emerging Markets Index. The underlying index attempts to gauge the performance of equities in emerging markets globally.
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