iShares MSCI Japan Index Fund Set to Possibly Pullback After Yesterday's Rally of 1.44%
iShares MSCI Japan Index Fund (NYSE:EWJ) traded in a range yesterday that spanned from a low of $12.30 to a high of $12.35. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $12.22 on volume of 21.3 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
SmarTrend recommended that subscribers consider buying shares of iShares MSCI Japan Index Fund on March 30th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $11.63. Since that recommendation, shares of iShares MSCI Japan Index Fund have risen 4.3%. We continue to monitor EWJ for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Over the past year, iShares MSCI Japan Index Fund has traded in a range of $10.18 to $13.32 and is now at $12.31, 21% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has slid 0.2%.
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