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 $44.17 on a volume of 5.0 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 MSCI Brazil Index Fund has traded in a range of $40.68 to $57.76 and is now at $43.41, 7% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 1%.
SmarTrend recommended that its subscribers protect gains by selling shares of iShares MSCI Brazil Index Fund on November 6th, 2013 by issuing a Downtrend alert when the shares were trading at $48.61. Since that call, shares of iShares MSCI Brazil Index Fund have fallen 8.1%. 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