Bullish movement on $FXI after multi-year lows
Here we can see
FXI
potentially breaking out of a multi-year downtrend after a 2021 top. The stock formed an inverse head and shoulders pattern while touching support and bottoming at about $20.84. A large cap ETF such as this could be a very low risk trade heading towards the latter half of the year. Personally, I will be waiting to buy after it starts trading above the 50SMA. You can see it is currently above the 20, and now it is working its way to be above the 50 with significant volume this week.
FXI
potentially breaking out of a multi-year downtrend after a 2021 top. The stock formed an inverse head and shoulders pattern while touching support and bottoming at about $20.84. A large cap ETF such as this could be a very low risk trade heading towards the latter half of the year. Personally, I will be waiting to buy after it starts trading above the 50SMA. You can see it is currently above the 20, and now it is working its way to be above the 50 with significant volume this week.