Long EMLC VanEck JPMorgan EM Local Currency BondEMLC is bumping up downward sloping resistance line. Should it breakout I'm looking to accumulate shares of EMLC - VanEck JPMorgan EM Local Currency Bond ETF. These bonds are denominated in local EM currency and should benefit from a falling dollar. I also like the 6.85% yield.
Key stats
About VanEck J. P. Morgan EM Local Currency Bond ET
Home page
Inception date
Jul 22, 2010
Structure
Open-Ended Fund
Dividend treatment
Distributes
Distribution tax treatment
Ordinary income
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
Van Eck Associates Corp.
Distributor
Van Eck Securities Corp.
EMLC holds sovereign debt issued by emerging market governments. EMLC's holdings are denominated in the local currencies of issuance, giving investors pure exposure to the markets it covers at the cost of added FX volatility. The bulk of EMLC is in debt expiring in 10 years or less, so investors needing longer-dated issues should look elsewhere. EMLC aims to cover the emerging markets space in a balanced manner. No country holds more than about a tenth of the overall portfolio weight. Take note: Similar to other funds in the emerging markets space, much of the portfolio doesn't trade during US hours. Effective February 28, 2020, the methodology for the underlying index was modified to include China exposure and to take a tiered approach to weighting. Minimum country exposure is limited to between 1% and 3% and then market value-weighted within the country.
Classification
What's in the fund
Exposure type
Government
Stock breakdown by region
Top 10 holdings
Not all bonds are declining!EMLC has just experienced a bullish breakout of a wedge pattern. That occurred above support (23.6% retracement of all-time high to all-time low), which lends to the bullish slant. It's also recently tested and held a rising channel bottom and had a bullish breakout in the RSI, further strengthening
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Summarizing what the indicators are suggesting.
Oscillators
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Neutral
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Neutral
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Neutral
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Moving Averages
Neutral
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Moving Averages
Neutral
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Displays a symbol's price movements over previous years to identify recurring trends.