Is iShares MSCI Emerging Markets Asia ETF (EEMA) a Sell? The Stock Formed Bearish H&S Pattern

May 22, 2018 - By Hazel Jackson

The stock of iShares MSCI Emerging Markets Asia ETF (EEMA) formed H&S with $69.93 target or 5.00 % below today’s $73.61 share price. The 5 months Head & Shoulders indicates high risk for the $594.12M company. It was reported on May, 22 by If the $69.93 price target is reached, the company will be worth $29.71M less.
Head-and-shoulders are one of the best chart patterns to trade. They work in bear and bull markets and according to many researchers have very low failure rate. Even thought they have high pullback rate, such patters usually provide good risk-reward entry opportunities. The percentage of stocks meeting price targets is 55%.

The ETF increased 0.59% or $0.43 during the last trading session, reaching $73.61. About 28,456 shares traded. iShares MSCI Emerging Markets Asia ETF (NASDAQ:EEMA) has risen 22.19% since May 22, 2017 and is uptrending. It has outperformed by 10.64% the S&P500.

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