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After Yesterday's Rally of 1.97% Shares Could Potentially Pullback

By Amy Schwartz

iShares MSCI South Korea Index Fund (NYSE:EWY) traded in a range yesterday that spanned from a low of $56.52 to a high of $56.79. Yesterday, the shares gained 2.0%, which took the trading range above the 3-day high of $56.05 on volume of 1.0 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 MSCI South Korea Index Fund share prices have been bracketed by a low of $42.94 and a high of $61.75 and are now at $56.76, 32% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.7%.

SmarTrend is tracking the current trend status for iShares MSCI South Korea Index Fund and will alert subscribers who have EWY in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders ishares msci south korea index fund

Ticker(s): EWY