iShares FTSE Crosses Below its 10-day MA (FXI)
Today, shares of iShares FTSE (NYSE:FXI) have crossed bearishly below their 10-day moving average of $51.70 on a volume of 3.9 million shares. This may provide short-term investors a chance 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 $34.41 to $52.85 and is now at $51.45, 50% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.3% while the 200-day MA has risen 0.5%.
SmarTrend recommended that subscribers consider buying shares of iShares FTSE on March 19th, 2015 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $43.12. Since that recommendation, shares of iShares FTSE have risen 20.6%. 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