iShares MSCI Brazil Index Fund Crosses Below its 10-day MA (EWZ)
Today, shares of iShares MSCI Brazil Index Fund (NYSE:EWZ) have crossed bearishly below their 10-day moving average of $51.71 on a volume of 5.5 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
In the past 52 weeks, iShares MSCI Brazil Index Fund share prices have been bracketed by a low of $48.27 and a high of $70.74 and are now at $51.27, 6% above that low price. The 200-day and 50-day moving averages have moved 0.45% lower and 0.39% lower over the past week, respectively.
SmarTrend recommended that its subscribers protect gains by selling shares of iShares MSCI Brazil Index Fund on September 26th, 2012 by issuing a Downtrend alert when the shares were trading at $54.30. Since that call, shares of iShares MSCI Brazil Index Fund have fallen 4.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: moving crosses ishares msci brazil index fund