iShares FTSE Crosses Below its 10-day MA (FXI)
iShares FTSE (NYSE:FXI) crossed under its 10-day moving average of $37.95 on a volume of 5.6 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.
Over the past year, iShares FTSE has traded in a range of $28.10 to $52.37 and is now at $37.81, 35% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has advanced 0.5%.
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 7.8%. 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