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After Yesterday's Rally of 1.39% Shares Could Potentially Pullback

By James Quinn

iShares MSCI Mexico Investable Market Index Fund (AMEX:EWW) traded in a range yesterday that spanned from a low of $51.66 to a high of $52.19. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $52.06 on volume of 1.9 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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

Over the past year, iShares MSCI Mexico Investable Market Index Fund has traded in a range of $43.17 to $60.92 and is now at $51.95, 20% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.4% while the 200-day MA has slid 0.3%.

Keywords: rebounders amex:eww ishares msci mexico investable market index fund

Ticker(s): EWW