iShares MSCI South Korea Index Fund Crosses Below its 10-day MA (EWY)
iShares MSCI South Korea Index Fund (NYSE:EWY) crossed under its 10-day moving average of $54.01 on a volume of 227K 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 South Korea Index Fund have traded between a low of $42.94 and a high of $61.75 and are now at $53.89, which is 26% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has remained constant.
SmarTrend recommended that subscribers consider buying shares of iShares MSCI South Korea Index Fund on June 6th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $51.96. Since that recommendation, shares of iShares MSCI South Korea Index Fund have risen 4.5%. We continue to monitor EWY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses ishares msci south korea index fund