Below looks at the price pattern of EEM over the past 10-years:
EEM has done well since the start of 2016, reflecting gains much stronger than the S&P 500. Over the past 5-years, EEM has little to brag about, as the gains have been pretty much non-existent!
This week EEM was able to put in a “Weekly Close” above highs at resistance zone (1) above. This breakout is a positive price signal and could attract buyers due to the breakout.
Next key upside test for EEM come in at the $50 zone, around 10% above current prices.
The iShares MSCI Emerging Markets Index ETF (EEM) closed at $46.66 on Friday, up $0.42 (+0.91%). Year-to-date, EEM has gained 33.89%, versus a 15.11% rise in the benchmark S&P 500 index during the same period.
This article is brought to you courtesy of Kimble Charting Solutions.