The Range Is Tightening in MSCI Emerging Markets Index Fund
Published on Monday, 29 April 2013 09:42 Written by TradersHuddle Wire
New York, April 29th (TradersHuddle.com) - Shares of MSCI Emerging Markets Index Fund (NYSE:EEM) closed the trading session at $42.24 with its price action in a very tight range, given that calculated support is set at $41.75 and the calculated resistance is set at $42.83.
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 price action indicates that both sellers and buyers are materializing very close to each other. This signals an area where momentum is building, since the stock can resolve by breaking out of the developing tight range.
Traders wanting to establish a position should pay close attention to MSCI Emerging Markets Index Fund's price action, as any movement outside its predefined range of $41.75 and $42.83 could grasp the attention of momentum buyers that look for a big movement in the price of the stock. Traders need to be aware that tight range resolution works both ways, hence, a move below support could spark above the average selling. A tiered approach could be the best way to start a position; enter into it while the stock is in the tight range, and then add to this position as it breaks and closes above resistance.
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