What’s Ahead for iShares MSCI China Index Fund (MCHI) After Forming Wedge Up Chart Pattern?

September 17, 2017 - By Adrian Erickson

The stock of iShares MSCI China Index Fund (MCHI) formed an up wedge with $68.11 target or 7.00 % above today’s $63.65 share price. The 8 months wedge indicates low risk for the $2.58B company. If the $68.11 price target is reached, the company will be worth $180.60M more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock increased 0.87% or $0.55 on September 15, reaching $63.65. About 3.06 million shares traded or 91.25% up from the average. iShares MSCI China Index Fund (NASDAQ:MCHI) has risen 34.72% since September 17, 2016 and is uptrending. It has outperformed by 18.02% the S&P500.

More notable recent iShares MSCI China Index Fund (NASDAQ:MCHI) news were published by: Forbes.com which released: “What Are The Odds For China’s A-Shares Getting The MSCI Greenlight?” on April 06, 2017, also Etfdailynews.com with their article: “Chinese Stocks Just Broke Through Major Resistance (MCHI)” published on August 29, 2017, Investorplace.com published: “3 Red-Hot Chinese ETFs That Deserve More Attention” on August 30, 2017. More interesting news about iShares MSCI China Index Fund (NASDAQ:MCHI) were released by: Marketwatch.com and their article: “This China-focused fund beats its rivals by looking beyond Alibaba and Tencent” published on September 06, 2017 as well as Etfdailynews.com‘s news article titled: “Morgan Stanley: China Is A Massive Long-Term Investment Opportunity” with publication date: February 14, 2017.

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