Don't Ignore This Chart!

Caribbean Fund Surges to Multi-year High

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Cuba is in the news today on the announcement that the US and Cuba will start talks to normalize ties. What does Cuba have to do with a Technical Analysis website? Well....I was looking at the most actives on the Nasdaq and saw CUBA with a 40+ percent gain on big volume. This is the Herzfeld Caribbean Basin Fund and it would appear to have ties to Cuba, though I cannot confirm. In any case, the fund broke above the highs extending back to early 2013 and could be poised to start a new era. While I would not run out and mortgage the house on this one right now, it is one to keep on the radar for bullish opportunities in the future (pullbacks, consolidations, flags, falling wedges etc...). Added Note: recent filings show that CUBA holds mostly US stocks and is simply "prepared" to take advantage of normalized relations with Cuba. The normalization process is likely to be a long and drawn out affair. 


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Arthur Hill
About the author: , CMT, is a Senior Technical Analyst at StockCharts.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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