Wednesday, November 28, 2007

Buy: FXI FTSE/Xinhua (176.47) is oversold and ready to bounce


















Rationale: After dropping from its Oct 31st highs, the FTSE/Xinhua China 25 Index is exhibiting oversold bottoming action. A falling ADX, bullish divergences, and strong negative sentiment suggest a upward bounce from these levels. (Note: today's pre-morning price action is up at 178.64)

Price Target: 1st : 187
Stop: 168