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iShares FTSE Bearish Moving Average Crossover Alert (FXI)

By James Quinn

iShares FTSE (NYSE:FXI) shares have crossed bearishly below their 10-day moving average of $30.54 on a volume of 8.1 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, iShares FTSE has traded in a range of $28.81 to $52.85 and is now at $30.32, 5% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has declined 2%.

SmarTrend recommended that its subscribers protect gains by selling shares of iShares FTSE on November 13th, 2015 by issuing a Downtrend alert when the shares were trading at $37.12. Since that call, shares of iShares FTSE have fallen 17.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses ishares ftse

Ticker(s): FXI