Fomento Economico Mexicano
It's been a stellar year for Fomento Economico Mexicano (FMX), the $200 billion beverage stock better known as FEMSA. Shares have rallied more than 46% in the trailing 12 months alone. That strong price performance has been the result of the exact same uptrending channel that we're seeing in Google and the broad market right now.
FMX bounced hard off of trend line support earlier this week, indicating to waiting buyers that this stock can indeed still catch a bid at those lower levels. While shares have moved up a fair amount since that bounce happened, this still marks a lower-risk entry level for longer-term traders who plan on keeping shares for this stock's next few oscillations.
International markets have been correcting lately, so if you do take a position in FMX, use a tight stop.