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Watch for Shares of First Trust ISE Water Index Fund (FIW) to Approach Support at $17.66

Written on Mon, 06/07/2010 - 12:56pm
By Chip Brian

SmarTrend has detected shares of First Trust ISE Water Index Fund (NYSE:FIW) have bearishly opened below the pivot of $18.08 today and have reached the first level of support of $17.80.
Should the shares continue to fall, we are monitoring the next support pivots of $17.66 and $17.24. Also, the shares are currently trading below the 50-day moving average of $19.84 and below the 200-day moving average of $18.70.
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 6.8%.

Contact Chip Brian
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