Critical Value Alert
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German ETF at point of no return; it’s now or never.
The iShares MSCI Germany ETF (EWG) will make a lot of people a lot of money in the next 12 weeks… but not everyone.
This chart shows EWG trading at a critical support level. A rule of thumb for trading is that major support lines normally hold while minor support levels usually break. What that means for EWG is uncertainty: a jump back to recent highs or a fall off a cliff.
I’m biased towards a fall off the cliff. Just look at momentum getting ready to turn negative like Karl Rove in a presidential campaign.
Not to mention that manufacturing numbers show a fall of 2.4% when economists expected a rise of 0.3%.
So here’s how to trade it: A failure here means a quick tumble to $22 (from a current price of $28.50) with an ultimate hard landing all they way down at $8, however unlikely that seems.
A bounce here should be played a bit more tentatively, since upside is more limited.
Sara Nunnally
Editor, Taipan Trader
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Source: Critical Value Alert
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Tags: EWG, index etf, Sara NunnallyAbout the Author
As Editor of the investment advisory service Taipan Trader, Sara Nunnally brings a fresh perspective and an exciting approach to the world of international investing. Traveling to such countries as Vietnam, Morocco and Spain, Sara investigates for you the secret world of emerging and frontier markets that are ready to explode in profits. Sara applies a balanced technique with a completely new focus of investment opportunity and profits for her members.
Taipan Daily is your free resource for late-breaking investment opportunities to help you beat Wall Street to the profits. Filled with investment analysis and insight from every sector. Taipan Daily delivers just the right blend of safe opportunities with the fast-moving plays, so you have an insider's edge over Wall Street and other investors.