EWZS - long setup monthly chartsEWZS, like most of the Latin America ETFs has underperformed the broader markets so far, and has been unable to go past pre Covid highs.
Below are some considerations
1. Price has just come over the 20 day Moving Average after being in a downwards structure, which is an area of interest for me
2. All the ETFs in the Latin America space have shown recent strengths however, all except Mexico, are currently below their 200 Day MA which could act as an intermittent resistance zone
3. Monthly chart structure looks positive and RSI on all larger time frames are promising
4. Price is currently 3.74% below its 200 Day MA
Current Ranking is as follows based on Relative Strength
ETF Name Ticker Strength Score Rank
iShares MSCI Brazil Small Cap ETF EWZS 50.00% 6
Ishares Msci Brazil ETF EWZ 20.00% 8
iShares MSCI Mexico ETF EWW 70.00% 4
iShares MSCI Peru ETF EPU 100.00% 1
iShares MSCI BRIC ETF BKF 90.00% 2
iShares MSCI Chile ETF ECH 10.00% 10
iShares MSCI Emerging Markets ETF EEM 70.00% 4
iShares Latin America 40 ETF ILF 30.00% 7
Invesco DWA Emerging Markets Momentum ETF PIE 20.00% 8
Vanguard Emerging Markets Stock Index Fund ETF VWO 90.00% 2
This gives us a dynamic perspective of current strengths. Note, one of the better times for a low risk reward trade is trading/investing near its 20 day or 20 week average and you know your reasons for your trade. Hence , EWZS stands with a chance for possible shift on momentum. I will add more charts on these ETFs and link them
Till then, share your views and happy investing
