Related: China ETFs Slip as Deflation, Lingering Trade Fears Trigger Profit Taking

FXI currently trades just over $43 and resides 13.76% below its 52-week, indicating there is some room for the benchmark China ETF to continue soaring.

“The last time the FXI traded there was in June. Newton points out that a bullish base has been forming since the beginning of January, which indicates that a breakout could be near,” according to CNBC.

Year-to-date, investors have added almost $274 million to MCHI while FXI has seen modest outflows.

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