3 Country Fund ETFs for Active Investors

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As US stocks have gained ground, attention on what's going on in the stock markets of Europe, Asia, and elsewhere has waned somewhat. And now, with stocks in the US beginning to pullback once again, European stocks aren't the only ones that have resumed their corrections, leading a broad number of international equity markets to or near technically oversold levels.

The iShares MSCI Mexico Index Fund ETF ( EWW ) pulled back by more than one and three quarters of a percent on Friday, reversing lower and potentially resuming a sell-off that had taken the fund lower for five out of the previous seven trading days. EWW is now trading just inside of technically oversold territory above the 200-day moving average, but has already earned both a positive, short-term edge of 1%, and a "consider buying" rating of 9 out of 10.

Even greater edges are to be found in the pullback in the iShares MSCI Germany Index Fund ETF ( EWG ), which pulled back by more than 3% on the final trading day of the week. The two-day bounce here managed to return the ETF briefly to overbought levels on Thursday. But with short-term traders moving in quickly to take profits and those who had been betting against ETFs like EWG spotting another opportunity to sell short an overbought German ETF, the fund is again trading near, two-week lows and will open oversold when trading begins on Monday.


The selling in the iShares MSCI Japan Index Fund ETF ( EWJ ) has managed to drag the fund into oversold territory. And this retreat, a pullback of 1% on Friday, has earned EWJ a "consider buying" rating of 8 out of 10 ahead of Monday's open. Shares of EWJ are actually trading nearer to their 200-day moving average than nearby, two-week lows. But any significant selling on Monday could easily take EWJ beyond both milestones.

iShares MSCI Spain Index Fund ETF EWP oversold

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David Penn is Editor in Chief of TradingMarkets.com



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Stocks

Referenced Stocks: EWG , EWJ , EWP , EWW

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