iShares MSCI Emerging Markets Index Fund (EEM) — This exchange-traded fund (ETF), which is designed to measure equity market performance in the global emerging markets, contains a number of the technical characteristics that indicate this investment will likely be successful.
The major trend, which had been supported by the 50-day moving average, was broken in late January. Since then, EEM found support at its 200-day moving average and picked up significant accumulation starting in February.
In late March, this ETF issued a trading buy signal when the 20-day moving average crossed above the 50-day. And on Thursday, EEM broke out violently on high volume leaving a small gap behind.
If the breakout is genuine, the gap may not be closed, and the fund could quickly run to $48 to $50, which is our target for a short-term trade.
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