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jaxdog

$EEM Bullish Reverse Head and Shoulders?

Long
iShares MSCI Emerging Index Fund (AMEX:EEM)  
jaxdog Updated   
AMEX:EEM   iShares MSCI Emerging Index Fund
Chart Patterns Technical Indicators Trend Analysis
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chartpattern indicator trendanalysis
Emerging Markets looking to me like we have put in a low with this Reverse Head and Shoulders Pattern. I've drawn in what I feel would be a proper neck line that we are over at this point. It is under both the 50 and 200 SMAs but it has regained both the 10 and 20 EMAs. I've taken a small position and my stop will be 48.80 where I would deem this idea void. Ideas, not investing / trading advice.
Trade active:
Opened a 1/4 size position on 1/11 @ 49.65. I'll be looking to build it out to a full size in the coming days / weeks. All TBD. My stop is just below 1/11 LOD.
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