The share price of VanEck Vectors Vietnam ETF (NYSEARCA:VNM) has been falling for what seems like an eternity. The price is half it was in 2011, and has been stuck in a descending channel since mid-2014.
But the thing about descending channels is that there will ultimately be a breakout, and I believe the time is near. The share price has just bounced off a long-term support level of $12, and a wedge has formed, meaning that either a breakout or breakdown will occur. I believe that VNM will breakout. The Vietnamese economy has too much going for it, albeit with a fair amount of risk.