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iShares MSCI Australia Index Bearish Moving Average Crossover Alert (EWA)

By Nick Russo

iShares MSCI Australia Index (AMEX:EWA) shares have crossed bearishly below their 10-day moving average of $21.84 on a volume of 298K 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, shares of iShares MSCI Australia Index have traded between a low of $16.08 and a high of $23.81 and are now at $21.46, which is 33% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.8%.

SmarTrend recommended that subscribers consider buying shares of iShares MSCI Australia Index on October 10th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $21.01. Since that recommendation, shares of iShares MSCI Australia Index have risen 5.9%. We continue to monitor EWA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses amex:ewa ishares msci australia index

Ticker(s): EWA