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After Yesterday's Rally of 2.26% 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 $51.37 to a high of $51.63. Yesterday, the shares gained 2.3%, which took the trading range above the 3-day high of $51.14 on volume of 2.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, iShares MSCI South Korea Index Fund has traded in a range of $42.94 to $61.75 and is now at $51.59, 20% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has remained constant.

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