South Korean stocks have been on a multi-year upside
as shown by the chart of iShares
MSCI South Korea Index Fund (EWY),
an exchange-traded fund (ETF).
EWY holds well-known South Korean companies including Samsung Electronics,
POSCO (PKX),
Korea Electric Power (KEP),
Kookmin Bank (KB),
Shinhan Financial Group (SHG),
Hyundai Heavy Industries and Hyundai Motors.
EWY is trading well above its 200-day simple moving average, but
be careful with EWY because it could be making a double top.
Related Articles:
Exchange-Traded
Funds (ETFs)
Price Patterns - A
Double Top Signals a Downside
Simple
Moving Averages Smooth Price Fluctuations
Posted September 30, 2007.
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