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xtremerider8

IEMG Emerging Mkt: bottom is in; see TP for waves 3 & 5

Long
iShares Core MSCI Emerging Markets ETF (AMEX:IEMG)  
xtremerider8  
AMEX:IEMG   iShares Core MSCI Emerging Markets ETF
Technical Indicators Wave Analysis
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indicator waveanalysis
IEMG made a bulltrap with a long hammer in this monthly chart. RSI oversold.
It went back inside the pitchfork upchannel.Wave 1 of 3 has bottomed out.
The target price for wave 3 is 90 (FIBO Ext), a 55% profit from the 58 price.
Final wave 5 target projected at 1.618 FIBO is around 111.
Not trading advice
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