EWW Clasical braketrough patternSet enter point when market is bellow current resistance level and set target against previous high.
EWW trade ideas
EWW ShortAMEX:EWW Is not necessarily highly correlated with the SP US30 , etc
Now are apparently immersed in a brake of him downtrend, and this is acting like a support line and meaby is a little megaphone in development ; if we think positive (maybe a little innocent) can expect a reboot to the 60 level, but the fear ambient can make drop from the 53-60 zone to the strong diagonal support around the 44.8-46 zone.
I wait for the turndown or the acceleration... patience.
the bigpic:
Mexican Stocks -17% In 6 Months, But Are Showing Signs Of LifeThe iShares MSCI Mexico Capped ETF has sustained its longest move above the 50-day EMA since September (prior to breakdown). If EWW is able to close above the 2015 resistance level at $60.50, look for a continuation to the $63-$65 area in the next 1-3 months. An initial stop loss on a stock position can be placed under $58. Option traders can consider buying the Apr 20 $60 calls or $60/$63 bull call spreads upon that confirmed breakout.
Top ten holdings in the ETF (62.85% of assets): America Movil, Grupo Televisa, Fomento Economico, Grupo Financiero Banorte, Cemex, Wal-Mart de Mexico, Grupo Mexico, Fibra Uno Admin., Grupo Financiero Inbursa, and Alfa
The Mexican economy has had to deal with plunging oil and peso prices in the previous months. Tepid results from Wal-Mart de Mexico and Coca-Cola FEMSA have reflected this too. While the economy has been growing in a roughly 2.5% range (in terms of GDP), economists are more positive for 2015. The collectively group see GDP at +3.2% for the year and Mexico's Ministry of Finance looks for 3.2%-4.2% growth.
Trader takes a $1.4 Million Bet in EWW to the Long Side Trader takes a $1.4 Million Bet in EWW to the LONG Side. The investment seeks to track the investment results of a broad-based index composed of Mexican equities. I watch over 1300 trades a day and this is one of the only two trades that I have taken today. The chart looks great and I think that EWW will break to the upside and one trader thinks the stock is heading north of $66.
My Trade: Buying the EWW 5.30.2014 65 Calls for $1.55
Risk: $155 per 1 lot
Reward: Unlimited
Targets: $1.75, $1.95, $2.15, $2.30 and $2.75
EWWLast time met SMA200 from below, it blew right through. Need to see that this week. PnF shows Bearish Support soon.
