Get a Piece of the Emerging Markets PIE

By Sam Collins,

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PowerShares DWA Emerging Markets Technical Leaders Portfolio ( PIE ) -- This exchange-traded fund ( ETF ) seeks to mirror the price and yield performance of the Dorsey Wright Emerging Markets Technical Leaders Index.   

PIE Chart  

Chart Legend  

Since March 2009, the fund has doubled as it closely tracked its 50-day moving average from under $8 to $16. Now, however, it has broken from the pattern on high volume through a double-top with successive breakaway gaps. 

PIE appears to be a solid trade with an objective of $19 to $20. A stop-loss should be entered at $14.50.

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

This article appears in: Investing Investing Ideas
Referenced Stocks: ETF , PIE

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