Technical trade #5: Vanguard FTSE All-World ex-US ETF (VEU)

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vanguard technical analysisVanguard FTSE All-World ex-US ETF (NYSE: VEU) seeks to track the performance of the FTSE All-World ex-US Index, which is made up of approximately 2,200 stocks of companies located in 46 countries.

Sometimes we see a chart that technically seems to have it all, and this is one.

veu

Note the very bullish cup-and-handle followed by a gold cross, which is executed at the beginning of a bull channel and accompanied by very high buying volume.

The MACD has issued a buy signal, so it is possible for VEU to break above the bull channel with a target of $54 or even higher.

Next: Technical Trade #6

Symbol Lookup
IndexesChangePrice
DJIA+150.2510,058.64
NASDAQ+24.822,150.87
S&P 500+13.781,070.52

Last updated: February 10, 2010: 03:01 AM

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