Emerging Markets Fund Looks Tired
by Sam Collins 11/20/09
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iShares MSCI Emerging Markets Index Fund (EEM) -- This index ETF, 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.
We've been following EEM for five months with the first comment on June 29, at just above $32, with a target of $50.
This ETF has been a great performer but, like the broad market, is showing sign of fatigue. Note the stochastic sell signal (minor).
The long-term target is still $50, but I wouldn't chase it at its current price and prefer to buy it on a pullback.
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