Emerging markets ETF: double bottom, buyers step back in
VWO climbs 1.4% as a double bottom near 58 puts buyers back in charge
Emerging markets ETF: double bottom, buyers step back in
Our view last week
VWO is at week 11 of a buy signal and has already reached all 3 statistical references of the model. Signal strength, though, remains weak at 35 out of 100, and price is trading near the highs in an already heavily contested area. The stop has tightened, protecting the gain built so far.
This week's summary
Weekly technical analysis. This week VWO carved out a clean double bottom in the 58 area, with an intraweek rebound of 7% and buyers back in charge: 83% of volume on the buy side, up from 42% last week. The picture stays cautious: momentum and the ADX are falling, a sign the push is losing steam as price returns near its highs, in a zone already tested several times. Whether the double bottom holds will be the first thing to watch.
IQS Phase
55
ordinary
Signal Strength
33
medium · weak
Sizing
REDUCED
Ranking
#106 / 129
US stocks in progress
Trade P&L %
+1.20%
from signal to today
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