Close to the 200 Day - iShares FTSE/Xinhua China 25

Published on Thursday, 09 February 2012 10:14 Written by TradersHuddle Wire

New York, February 9th (TradersHuddle.com) - Shares of iShares FTSE/Xinhua China 25 Index Fund (NYSE:FXI) traded at $40.40 close to its 200 day moving average currently set at $38.43. iShares FTSE/Xinhua China 25's price action is just above this key support level, and it will certainly raise traders attention, as a possible trading opportunity.

iShares FTSE/Xinhua China 25 Index Fund (NYSE:FXI) is an ETF that seeks to reflect the price and yield performance of the FTSE/Xinhua China 25 Index. The underlying index represents blue chip stocks and includes the largest 25 Chinese companies trading on the Hong Kong Stock Exchange.

Latest price action range, defined by a peaks and troughs algorithm places calculated support at $33.55 and calculated resistance at $40.67. These levels will certainly be watched by traders, as they provide insight into the latest price dynamics defined by iShares FTSE/Xinhua China 25 stock.

Traders wanting to establish a position on iShares FTSE/Xinhua China 25 will be looking at the price action for evidence of buying near the 200 day moving average, and opening a position as close as possible to this important level. Also traders will be looking at the latest price action, via the stocks current range previously defined for insights of other key levels that might affect their upside or downside.