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iShares MSCI South Korea Index Fund Crosses Below its 10-day MA (EWY)

By Shiri Gupta

Today, shares of iShares MSCI South Korea Index Fund (NYSE:EWY) have crossed bearishly below their 10-day moving average of $68.08 on a volume of 644K 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 South Korea Index Fund share prices have been bracketed by a low of $42.94 and a high of $69.01 and are now at $67.23, 57% above that low price. The 200-day and 50-day moving averages have moved 0.06% lower and 0.67% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of iShares MSCI South Korea Index Fund on April 24th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $61.42. Since that recommendation, shares of iShares MSCI South Korea Index Fund have risen 11.6%. 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

Ticker(s): EWY