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iShares MSCI Brazil Index Fund Crosses Below its 10-day MA (EWZ)

By Amy Schwartz

iShares MSCI Brazil Index Fund (NYSE:EWZ) shares have crossed bearishly below their 10-day moving average of $41.54 on a volume of 8.9 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 MSCI Brazil Index Fund has traded in a range of $38.00 to $54.56 and is now at $40.28, 6% above that low. The 200-day and 50-day moving averages have moved 0.10% higher and 1.16% lower over the past week, respectively.

SmarTrend is monitoring the recent change of momentum in iShares MSCI Brazil Index Fund. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of iShares MSCI Brazil Index Fund in search of a potential trend change.

Keywords: moving crosses ishares msci brazil index fund

Ticker(s): EWZ