Domistock Tools Used:
DomiStock’s Support / Resistance Exploration just pointed to a resistance breach by China’s FXI and there are some underlying rumors that justify the move. They are about an upcoming stock trading link between Shenzhen and Hong Kong which will offer a never before access of tech stocks to global investors. On the DomiStock’s Support / Resistance Exploration Screen, FXI comes up as having just breached resistance (Column 1 returns the “1” value, which means the previous resistance has been broken).
After opening FXI’s chart with the DomiStock Fast template we see it having breached both the resistance level at $35,8 and a resistance trendline. It has also just recently turned to a Winner, as seen from the Winner/Loser/Neutral Ribbon at the bottom left of the chart. Appart from that the Max Profit Loss Caclulator points to a favourite future price path and the Fast Dominant / Hedging Signal System has turned produced a Dominat upward and without hedge signal for FXI. Hence it’s an IShare to watch. An interesting move and a resistance breach comes from the Hong Kong’s iShares EWH. It’s another ETF to pay attention to.