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iShares FTSE Crosses Below its 10-day MA (FXI)

By David Diaz

Today, shares of iShares FTSE (NYSE:FXI) have crossed bearishly below their 10-day moving average of $37.31 on a volume of 2.8 million shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, iShares FTSE share prices have been bracketed by a low of $28.10 and a high of $52.37 and are now at $37.15, 32% above that low price. The 200-day and 50-day moving averages have moved 0.56% lower and 0.48% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of iShares FTSE on July 14th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $35.48. Since that recommendation, shares of iShares FTSE have risen 5.6%. We continue to monitor FXI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses ishares ftse

Ticker(s): FXI