EWZ

I have been following the downward trend in EWZ for some time - looking for a momentum shift so that I could get in. I might be close to that - as the chart below shows:

EWZ has older support at around 50 - so it seems like a good situation to enter. I am going to let it go today and if EWZ is still in the positive tomorrow, then I am getting in with a planned exit for when it breaks the older support. The support can be seen in the 1Year chart below:

Tomorrow will tell us what to do about EWZ. This is a holiday shortened week and I am reluctant to pull the trigger in this short week - it all depends on how convincing the evidence is for EWZ's turnaround tomorrow. Essentially, I am looking for EWZ to have an upward slope in PSAR, be above EMA(20) and have positive MACD.

Manet, Bar at the Folies Bergères