“Risk management wise, this is only something that we like above this year’s lows, and even better above this week’s lows. If prices are below that then I don’t think there’s anything to talk about on the long side. If this bullish momentum divergence fails, then we absolutely do not want to be in this. Above it and we have a nice upside target near the 200 day moving average above 15. This makes the risk/reward very much skewed in favor of the bulls,” adds Parets. [Malaysia ETF Looks for Momentum]
iShares MSCI Malaysia ETF
Chart Courtesy: J.C. Parets, Eagle Bay Capital
ETF Trends editorial team contributed to this post. Tom Lydon’s clients own shares of EEM.