global trade noise was a perfect opportunity for Mexico ETF
EWW starting to get into over sold conditions - Peso is showing signs of Resistance of ~19.28-19.30 and expected to pull back therefore increasing price of EWW
Looking at these lines drawn all over, using the monthly ,weekly, daily, and 4-hour, we see that the shares are hitting a strong multi-decade support area and are trading at the bottom of several different channels. I think, that a buy at these levels, shows a significant margin of safety for future growth trends as Mexico will benefit from its proximity to the...
Looks to me like it's headed towards another bottom. No reason why it should go up anyways, their whole country was downgraded last week. If Feds don't cut rates, this will tank on the currency exchange alone.
Went long on EWW with profits from my GM puts, I'm betting that the Mexican president will respond with some BS to placate Trump over the weekend. Small play, next week calls, only 10 contracts. This one is gonna be hit or miss I think.
When in doubt short garbage, in this case the whole country of Mexico. Looks like a bear flag/H&S pattern.
Mexico is relatively cheap compared to other emerging market stock exchanges. In addition, I agree with several analysts that Mexico could be the winner of the trade war between USA and China. My investment strategy indicated a buy signal for EWW on May 21, with a target price of ~48 USD/share (expected profit of ~7.5%).