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iShares MSCI All Country Asia ex Japan ETFiShares MSCI All Country Asia ex Japan ETFiShares MSCI All Country Asia ex Japan ETF

iShares MSCI All Country Asia ex Japan ETF

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AAXJ trade ideas

iShares MSCI All Country Asia ex Japan ETF, here's a technical aPrice Action: The price is currently in an uptrend, having recently bounced off support around the $68-69 level. There's a clear "Buy Points Zone" marked on the chart between approximately $69.56 and $70.09, suggesting a potential accumulation area. Support and Resistance: - Strong support: $68.83 to $69.56 range - Resistance levels: $72.62 (current price), $73.42 (marked as "Take Profits Zone") Indicators: The RSI-VWAP indicator at the bottom shows recent momentum, with the current reading around 57, indicating moderate bullish momentum. Volume: The volume bars at the bottom show consistent trading activity, with green bars suggesting buying pressure in recent sessions. Potential Opportunities: 1. Long position: The chart suggests a bullish bias. Entries near the "Buy Points Zone" could offer good risk-reward, with a target at the "Take Profits Zone" around $73.42. 2. Breakout potential: A clear break above $73.42 could signal further upside. Risks: 1. Rejection at current resistance ($72.62) could lead to a pullback. 2. A break below the support at $68.83 would invalidate the bullish setup. Recommendation: Consider long positions if price pulls back to the "Buy Points Zone", with a stop loss below $68.83 and initial target at $73.42. Risk management is crucial - the distance between entry and stop loss should determine position size. This analysis is based on the chart provided and should be combined with fundamental analysis and broader market context for a comprehensive trading strategy. Always manage risk carefully and be prepared for unexpected market movements.
NASDAQ:AAXJ
by Trustscore