{"id":2323,"date":"2012-11-29T08:05:09","date_gmt":"2012-11-29T13:05:09","guid":{"rendered":"http:\/\/www.morpheustrading.com\/blog\/?p=2323"},"modified":"2012-11-29T08:05:09","modified_gmt":"2012-11-29T13:05:09","slug":"fxi-breakout-international-etf","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/fxi-breakout-international-etf\/","title":{"rendered":"Don’t Miss The Breakout Trade In This Hot International ETF ($FXI)"},"content":{"rendered":"

Two weeks ago, in this November 14 post on our trading blog<\/a>,\u00a0we initially pointed out the relative strength of iShares China Xinhua 25 Index ($FXI)<\/strong> and said, “Although the main stock market indexes of the USA have been in a downtrend since mid-September, FXI actually started trending higher right as the domestic markets started selling off…and is now in pullback mode.”<\/p>\n

In our subsequent November 19 ETF analysis, published in The Wagner Daily<\/em> swing trading newsletter just a few days later, we revisited the chart pattern of $FXI and said that, “very short-term traders only<\/em> might consider buying FXI if it moves above the November 16 high of $35.88.” Because US stocks had not yet confirmed at least a near-term low had been formed, we passed on “officially” adding this trade setup to our ETF Trade Watchlist<\/em>. Nevertheless, we still pointed out the trade so that more aggressive, very short-term traders could take advantage of an anticipated “quick pop” is the desired. Fast forwarding to the present, take a look at the updated chart of $FXI below:<\/p>\n

\"$FXI<\/p>\n

Note on the chart the level where we initially said aggressive traders could buy above the two-day high (circled in pink). This was due to the relative strength of FXI, a major level of horizontal price support (the blue line), and convergence of the 50 and 200-day moving averages (teal and orange lines respectively). Thereafter, FXI generally trended higher, but not in a very steady fashion.<\/p>\n

Yesterday (November 28), like most stocks and ETFs in the market, FXI gapped down sharply lower, but reversed to close at its intraday high and back above its 20-day exponential moving average (beige line). This followed a normal four-day pullback from its November 23 high. This has created an ideal pullback buy setup in FXI,<\/strong> which has a positive reward to risk ratio for swing trade entry above yesterday’s high. Regular newsletter subscribers should reference today’s ETF Trade Watchlist<\/em> section above to see our preset, exact entry, stop, and target prices for this swing trade setup.<\/p>\n

To receive the best short-term ETF and stock picks, as well as access to our winning market timing system, subscribe to The Wagner Daily ETF and stock picking service<\/em>\u00a0at https:\/\/www.morpheustrading.com<\/a>.<\/span><\/strong><\/em><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Two weeks ago, in this November 14 post on our trading blog,\u00a0we initially pointed out the relative strength of iShares China Xinhua 25 Index ($FXI) and said, “Although the main stock market indexes of the USA have been in a downtrend since mid-September, FXI actually started trending higher right as the domestic markets started selling […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[5],"tags":[],"class_list":["post-2323","post","type-post","status-publish","format-standard","hentry","category-stock-picks-analysis"],"_links":{"self":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/2323","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/comments?post=2323"}],"version-history":[{"count":0,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/2323\/revisions"}],"wp:attachment":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/media?parent=2323"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=2323"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=2323"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}