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iShares MSCI Brazil Index Fund Set to Possibly Rebound After Yesterday's Selloff of 1.06%

By Nick Russo

iShares MSCI Brazil Index Fund (NYSE:EWZ) traded in a range yesterday that spanned from a low of $34.36 to a high of $34.96. Yesterday, the shares fell 1.1%, which took the trading range below the 3-day low of $34.71 on volume of 6.0 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of iShares MSCI Brazil Index Fund have traded between a low of $17.30 and a high of $40.80 and are now at $34.59, which is 100% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.4% while the 200-day MA has slid 0.3%.

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

Keywords: rebounders ishares msci brazil index fund

Ticker(s): EWZ