Report No. Report No. 2449
Analysis by: Harry Aloof
FEB 19, 2013
I SHARES MSCI CHINA INDEX ETF (ECNS-NYSE): Technical
Viewpoint: From a low of $43.00 on Jan 28, 2013
prices rallied, reaching a high of $44.35 on Feb 1, 2013.
A decline saw prices pull back, reaching a low of $42.82 on Feb 7, 2013. Another rally saw prices penetrate resistance
line "A", closing yesterday at $44.92. Technicals:
Stochastic Oscillator (STOC): A Buy Alert! was given on Feb 11, 2013 when the solid line crossed the dotted line to the upside. Support: Remains at $43.72. Resistance:
Is at $47.00. Point & Figure: Reversed to the
upside on Feb 15, 2013. A P&F downside reversal
takes place at $43.00. Summary: Technical indicators have
turned bullish. BUY! I SHARES MSCI CHINA INDEX ETF (ECNS-NYSE) @ $45.13 Stop:
Use a protective stop of $43.13. I SHARES MSCI CHINA INDEX ETF
is currently trading @ $44.92 plus $0.51 on Feb 15, 2013.Price Objective: $59.50. Risk/Reward: $2.00
VS. $14.38. Today's Risk Reward Ratio: 7:1
DISCLAIMER: This report is not intended as an offering or a solicitation of an offer to buy or sell the securities and futures mentioned. While all information is derived from sources we deem reliable, we do not represent that it is accurate or complete. Such information and the opinions expressed are subject to change without notice. WALL STREET TRADER'S COLUMN, its officers, stockholders, and employees and their families may have a long or short position in or may at any given time purchase or sell the securities or options relating thereto<