Posted On: 04/28/2015 12:12:28 PM
Post# of 18493
EWY Exploding Off the Bottom On a Classic Turnaround Chart pattern.
The South Korea ETF (EWY) is exploding higher as South Korea's GDP picks up. On April 22, 2015, The Bank of Korea reported that Q1 2015 GDP came in at 0.8%. The consensus estimate was for 0.6%.
As the U.S. prepares to transition into a rising rates environment, money is chasing growth opportunities around the world.
South Korea's GDP per capita is forecast to overtake France's GDP per capita by 2020.
YTD EWY has outperformed the S&P 500 by an incredible +600%.
The chart of EWY shows a classic turnaround pattern. EWY did a Rectangle Bottom breakout in March, followed by a break above the 200 day moving average in April. A Resurrection Cross is quickly approaching.
Source: South Korea GDP Beats and How To Play
The South Korea ETF (EWY) is exploding higher as South Korea's GDP picks up. On April 22, 2015, The Bank of Korea reported that Q1 2015 GDP came in at 0.8%. The consensus estimate was for 0.6%.
As the U.S. prepares to transition into a rising rates environment, money is chasing growth opportunities around the world.
South Korea's GDP per capita is forecast to overtake France's GDP per capita by 2020.
YTD EWY has outperformed the S&P 500 by an incredible +600%.
The chart of EWY shows a classic turnaround pattern. EWY did a Rectangle Bottom breakout in March, followed by a break above the 200 day moving average in April. A Resurrection Cross is quickly approaching.
Source: South Korea GDP Beats and How To Play
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