Emerging MarketsThis chart says a lot about the last 12 months and will hopefully help guide into the next 12!
FDN
Strong Buy Signal on the U.S. Internet Stocks.The FDN (First Trust Dow Jones Internet Index Fund) which essentially covers the U.S. Internet Stocks, is now comfortably trading above the MA50 on the 1D chart on strong bullish candle action (RSI = 69.026, MACD = 2.230, Highs/Lows = 3.3271). Through this price action a strong buy signal has emerged and has to do with the similarities of the mid 2018 - 2019 price action with the late 2015 - mid 2016 sequence. Not only the MA periods (Death Cross followed by a Golden Cross) and candle action (Highs, Lows, consolidation phases) are virtually identical but also the price ranges (-27% decline from highs).
If a +21.50% rise follows, then the peak of the current bullish sequence would be near 161.00. We are long on this asset.
** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. **
Comments and likes are greatly appreciated.
$FDN - FANG Stocks ETF Oversold$FDN - FANG stocks ETF looking oversold on the daily, catching support around $134. Expecting a bounce in the near/medium term.
Targeting $145-150 area by mid November.
Note: Informational analysis, not investment advice.
FDN: Final stage of medium term internet ascent this week...FDN: First Trust Dow Jones Internet Index Fund - in 4th and likely final phase of the rally which began in early 2016. It can go on another 2% from here but then should hit problems. Use this index fund as confirmation next week - looking across the FAANGS for signs of completion. This looks like the final vertical ascent. Don't get sucked in now. Rather, get ready to bail if a swing trader.
FDN ETF short - Trump era is coming. No more cheap money.It's time to short internet companies - Trump era is coming.
