MSCI Emerging Markets Index Fund Is Close to Resistance
Published on Thursday, 10 January 2013 08:28 Written by TradersHuddle Wire
New York, January 10th (TradersHuddle.com) - Shares of MSCI Emerging Markets Index Fund (NYSE:EEM) are trading very close to calculated resistance at $45.33. The stock ended the trading session at just $44.44, which is near levels that make it difficult to buy or start a position.
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.
MSCI Emerging Markets Index Fund's stock range is defined by its calculated support defined at $39.92 and by the resistance level at $45.33; the stock is clearly over-extended from support, making it harder for participants to establish fresh longs.
Traders don't have a clear entry point for MSCI Emerging Markets Index Fund. However, as the stock pulls back towards $39.92 it will definitely provide a reference point to establish a trade. On the other hand, if the stock breaks above its resistance level at $45.33 then traders will get an opportunity to enter the stock as it moves to a higher range.
Related Partner Headlines
Recent Trading Ideas
Latest Partner Headlines