ECH ISHARES MSCI CHILE CAPPED ETF 19/05/2016
- Chile ETF ECH has broken the uptrend that started in January.
- In our commentary in May the 2nd we noted that there was a lot of overhead resistance between 38 and 40 level.
- After forming an inside bar in the weekly chart at the top of the descending channel it broke to the downside confirming our bearish bias.
ECH ETF (Weekly).
- Down to our daily chart we can see that there is a zone of support around the 35 level.
- This could cause a potential rebound before finally breaking to the downside.
- If this is the case we think the ECH could move to the 32 level.
ECH ETF (Daily).
Analyst: Victor Campos, CFA.
Source: LATAMPM with Tradingview.com data. Prices as of May, 17, 2016.
DISCLOSURE: The analyst or analysts responsible for this report may or may not have direct or indirect positions on the stocks and securities mentioned before, as of the date or after publishing. This report is for informational purposes only, based upon publicly available information. Accuracy and completeness of the information cannot be guaranteed. LATAM PM is not in any way be liable for claims related to this report. The information and analyses may not be suitable for your specific circumstances. Each investor shall make their own determination of the suitability of an investment of any securities referred to in this report.