iShares MSCI Emerging Markets Index Fund (EEM) — The 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, 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.
“The target is close to its 2008 high of $50.”
Since then, this ETF executed a breakaway gap and headed to new highs. We’ll stick with the target of $50.
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Sam Collins is a registered, fee-based portfolio manager who may be contacted at samailc@cox.net. You can also check out an archive of some of his most recent market outlooks.
