ETF Trade Ideas

iShares MSCI Singapore ETF forms bullish "Exhaustion Bar" chart pattern
May 31, 2019

Trading Central has detected an "Exhaustion Bar (Bullish)" chart pattern formed on iShares MSCI Singapore ETF (EWS:NYSE). This bullish signal indicates that the stock price may rise from the close of $22.84.

Tells Me: Selling pressure showing signs of exhaustion; we may see higher prices at least in the short term.

During a strong downtrend, an Exhaustion Bar opens with a gap down and develops into a very wide range. In the end, the open remains in the lower half of the bar showing that sentiment was most extreme early on, then the bulls gained ground with a close in the upper half of the bar.

This bullish pattern can be seen on the following chart and was detected by Trading Central proprietary pattern recognition technology.

Price Chart - iShares MSCI Singapore ETF
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