Currently: Cash Looking to: Buy @ $48.62
As of 1/22/21 close: $51.71
LAST WEEK: We suggested buying FXI at $43.72 with stops on a close below $43.20 and with a target of $54.
UPDATE: The iShares China ETF (FXI) exploded higher last week – likely due to friendly moves by President Biden in the U.S. With Biden tearing down the friction that President Trump imposed on the US / China relationship, FXI and other Chinese proxies could be the macro trades of the next four years.
We would look to buy dips in FXI to $48.62 with stops honored on a close below $47.67 and with an upside target of $72.