Shorting Spain here at an uptick in a bearish trend. Europe is not looking good in the current economic environment.
Spain does not look like the USA. Verge of breaking down. (No position).
Weak relative strength compared to other indexes, and now price breaking down a line that must hold, not good
Spain, a beautiful country with beautiful houses and people but not it's equities. EWP, a Spain index ETF has been tracing out a long term triangle since 2009. The triangle has appeared to have reached or very near to its apex. This is where the country's equities will start falling apart and its consistent with my other analysis of EUFN (Refer to related...
PLAN: TAKE ONE DOLLAR STAKE AND SELL BACK. WAIT FOR THE PULLBACK AND BUY AT THE BOUNCE!
Plan : Take a one dollar stake and sell back! WAIT FOR THE PULLBACK AND AT THE BOUNCE!
Successfully retested the red line and and now broke out the falling wedge. RSI and MACD are bullish. Good chance of 20%+ gain from current level.
Long Spain , Short U.K. This pair trade has been successful 77.82 % of the time during the past three years. Trade should last about 15 days . Long EWP @ 33.17 Short EWU @ 18.52 Cheers Algo
This is why... You see, four years ago when Spain won the World Cup, the iShares MSCI Spain Capped ETF (NYSEARCA:EWP) had come into a major support level on the charts, while making a significant higher low at $29,85 in the monthly chart. Shortly after the nation's team was crowned World Champion of the 2010 FIFA World Cup, the iShares MSCI Spain Capped ETF...
As the index couln't rise further on widening Bollinger band and with a divergence in the MACD I suppose a test of the EMA 21 or the Middle line of the BB at least.