As the chart below illustrates, EIDO has, since the start of December, outpaced its South Korea, Taiwan, Thailand, and yes, Japan, equivalents.
A deeper look at IDX’s technical picture shows the ETF could be poised for further near-term upside.
“Indonesia may be trying to put in a bottom. Upside breakout of the recent downtrend, coupled with a bullish divergence in the RSI momentum indicator,” according to Captain John Charts.
Chart Courtesy: Captain John Charts