China Large-Cap ETF Flashing Sell Signal After 16% Rally: ChartBy
A 16 percent gain in two months has pushed a momentum gauge on an exchange-traded fund invested in China’s 50 biggest companies above a point that frequently precedes declines. The iShares China Large-Cap ETF’s 14-day relative strength index broke past 70 amid growing signs that the nation’s economic slowdown is stabilizing. Shares in the fund sold for as much as $37.99 Monday as a report in the Hong Kong Economic Journal said the start date for an exchange link between Shenzhen and Hong Kong may be announced as soon as this week.
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