After Yesterday's Rally of 1.11% Shares Could Potentially Pullback
iShares MSCI Emerging Markets Index Fund/United States (NYSE:EEM) traded in a range yesterday that spanned from a low of $37.75 to a high of $37.98. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $37.64 on volume of 29.7 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
iShares MSCI Emerging Markets Index Fund/United States share prices have moved between a 52-week high of $43.46 and a 52-week low of $27.61 and are now trading 37% above that low price at $37.90 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has slid 0.3%.
SmarTrend recommended that subscribers consider buying shares of iShares MSCI Emerging Markets Index Fund/United States on July 12th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $35.31. Since that recommendation, shares of iShares MSCI Emerging Markets Index Fund/United States have risen 6.2%. We continue to monitor EEM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders ishares msci emerging markets index fund/united states