**** Long Canada Short US Oil Gas ETF ***Intra-sector Energy Trade here
Canada Index Trading on a low relative to XLE US Energy Oil and Gas.
There is a strong Reversal potential here
Key stats
About iShares MSCI Canada Index Fund
Issuer
BlackRock, Inc.
Brand
iShares
Expense ratio
0.50%
Home page
Inception date
Mar 12, 1996
Index tracked
MSCI Canada Custom Capped
Management style
Passive
ISIN
US4642865095
EWC aims to capture the large- and mid-cap segments of the Canadian market while reflecting capping constraints. Its underlying index is market cap-weighted and rebalanced on a quarterly basis using a variation of the MSCI 25/50 Indexes methodology, where the weight of any single group entity will be constrained at 22.5% and the sum of the weights of all group entities representing more than 5% weight will be constrained at 24.5%. By doing so, it minimizes index turnover, tracking err and extreme deviation from the parent index. Moreover, a buffer is used to reduce the risk of non-compliance due to short term market movements between two quarterly rebalancing. Prior to September 2017, the funds underlying index was the MSCI Canada Index (where the MSCI Canada Custom Capped Index is constructed from).
Classification
Asset Class
Equity
Category
Size and style
Focus
Total market
Niche
Broad-based
Strategy
Vanilla
Weighting scheme
Market cap
Selection criteria
Market cap
What's in the fund
Exposure type
Finance
Technology Services
Energy Minerals
Stock breakdown by region
EWC - 6.17% Profit Potential Swing Trade Setup - PennantBullish Pennant formed after a steady bull run.
I have not identified a clear technical target, however, I love the risk/reward ratio on this trade and I still feel this is an opportunity to pursue.
- Target Entry: $36.83
- Target Stop Loss: $36.50
- Target Exit: $39.00
- Risk / Reward Ratio: 6.58
Short EWC. Time symmetry and fib retracement levelsEither a clean break at time symmerty at the fib level, or a false move up first. Or, the short setup fails and the short-term bullish trend continues
SHORT Canadian index EWCEWC is based mainly on financial sector and banking depends on house debt.
Real estate market in Canada didn't suffer as US RE so the potential is reall big.
I am looking for an entry.
EWC Long after consolidation in uptrendEnter EWC after breakout above recent highs with stop below recent lows
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