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First Trust ISE Water Index Fund (FIW) Approaches New Downside Target of $17.43

Written on Thu, 07/01/2010 - 10:41am
By Chip Brian

SmarTrend has detected shares of First Trust ISE Water Index Fund (NYSE:FIW) have bearishly opened below the pivot of $17.72 today and have reached the first level of support of $17.56.
Should the shares continue to fall, we are monitoring the next support pivots of $17.43 and $17.14. Also, the shares are currently trading below the 50-day moving average of $19.11 and below the 200-day moving average of $18.77.
SmarTrend, our proprietary pattern recognition system, alerted subscribers to sell shares of First Trust ISE Water Index Fund on May 07, 2010 at $19.06. Since the call, the stock has fallen 8.4%.

Contact Chip Brian
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