iShares MSCI Brazil Index Fund Set to Possibly Rebound After Yesterday's Selloff of 3.83%
iShares MSCI Brazil Index Fund (NYSE:EWZ) traded in a range yesterday that spanned from a low of $27.67 to a high of $28.26. Yesterday, the shares fell 3.8%, which took the trading range below the 3-day low of $28.75 on volume of 13.9 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
SmarTrend recommended that subscribers consider buying shares of iShares MSCI Brazil Index Fund on February 4th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $20.45. Since that recommendation, shares of iShares MSCI Brazil Index Fund have risen 41.6%. We continue to monitor EWZ for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
In the past 52 weeks, shares of iShares MSCI Brazil Index Fund have traded between a low of $17.30 and a high of $37.35 and are now at $27.91, which is 61% above that low price. The 200-day and 50-day moving averages have moved 0.2% lower and 2.22% higher over the past week, respectively.
Keywords: rebounders ishares msci brazil index fund