MSCI Emerging Markets Index Fund Is Close to the 50 Day Moving Average
Published on Wednesday, 09 January 2013 08:28 Written by TradersHuddle Wire
New York, January 9th (TradersHuddle.com) - MSCI Emerging Markets Index Fund (NYSE:EEM) closed the trading day at $44.25, near its 50 day moving average that is set at $42.37. MSCI Emerging Markets Index Fund's price action is just above this important support level, providing a trading opportunity.
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.
The peaks and troughs algorithm shows calculated support at $39.92 and calculated resistance at $45.33. These levels should also be evaluated when planning trades, as they provide an insight into the latest price action.
Traders wanting to establish a position on MSCI Emerging Markets Index Fund should look for evidence of buying near the 50 day moving average, and open this position as close as possible to this important level. Also, they need to consider the latest range defined by the peaks and troughs algorithm for insights on other key levels that might impact an upside or downside move.
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