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Watch for Shares of First Trust ISE Water Index Fund (FIW) to Approach Resistance at $19.04

Written on Thu, 07/29/2010 - 10:06am
By Chip Brian

SmarTrend has detected shares of First Trust ISE Water Index Fund (NYSE:FIW) have bullishly opened above the pivot of $18.67 today and have reached the first resistance level of $18.82.
We are watching for a cross of the next upside pivot targets of $19.04 and $19.41. Also, the shares are currently trading above the 50-day moving average of $18.24 and above the 200-day moving average of $18.74.
SmarTrend, our proprietary pattern recognition system, alerted subscribers to buy shares of First Trust ISE Water Index Fund on July 26, 2010 at $18.86. Since the call, the stock has risen 0.1%.

Contact Chip Brian
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