iShares MSCI Emerging Markets Index Fund (EEM) — This index, which is designed to measure equity market performance in the global emerging markets, contains a number of the technical characteristics that indicate that this investment will likely be successful.

On June 29, with EEM trading at just over $32, I said, ” Note the major breakout from the triple-top, which became a bullish cup-and-handle, the gold cross, a buy signal from our internal indicator, the Collins-Bollinger Reversal (CBR), and Moving Average Convergence/Divergence (MACD) turning and near to a buy signal.” 

And, on July 28, at $35.40, I said, “Since then [June 29], this ETF executed a breakaway gap and headed to new highs. We’ll stick with the target of $50. “

I’ll still go with a target of $50, but note the double-top. This indicates resistance, but the selling volume is, on balance, less than the buying volume. Also, note the CBR buy signal at the 50-day moving average (blue line).

Buy at the blue line (about $34) with a stop-loss under the supporting channel at $32.  

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