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After Yesterday's Rally of 2.15% Shares Could Potentially Pullback

By James Quinn

iShares MSCI Spain Index Fund (NYSE:EWP) traded in a range yesterday that spanned from a low of $29.53 to a high of $29.69. Yesterday, the shares gained 2.2%, which took the trading range above the 3-day high of $29.05 on volume of 655,000 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 Spain Index Fund share prices have been bracketed by a low of $22.58 and a high of $36.95 and are now at $29.58, 31% above that low price. The 200-day and 50-day moving averages have moved 0.47% lower and 0.90% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of iShares MSCI Spain Index Fund on December 13th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $27.33. Since that recommendation, shares of iShares MSCI Spain Index Fund have risen 6.2%. We continue to monitor EWP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders ishares msci spain index fund

Ticker(s): EWP