Domistock Tools Used:
Assets charted: Market Vectors Russia ETF (RSX)
DomiStock has called Market Vectors Russia ETF (RSX) a ‘Deflated Winner” and according to its strategies that rings the bell for a contrarian trading opportunity, which is to long the security although it’s on a short term downtrend, on the basis that it is a “Winner” and hence more probable to move higher in the medium to long term and at the moment it’s just got quite deflated or in simpler words, cheap. Should you choose to do that and in order to better place your stop loss orders, keep in mind that the nearest support is at $17.73 and the next one at $17.30.
