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After Yesterday's Rally of 1.12% Shares Could Potentially Pullback

By Shiri Gupta

iShares FTSE (NYSE:FXI) traded in a range yesterday that spanned from a low of $36.38 to a high of $36.64. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $36.26 on volume of 7.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, iShares FTSE share prices have been bracketed by a low of $28.10 and a high of $52.37 and are now at $36.60, 30% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has slid 0.6%.

SmarTrend is tracking the current trend status for iShares FTSE and will alert subscribers who have FXI in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders ishares ftse

Ticker(s): FXI