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iShares MSCI South Africa Index Fund Set to Possibly Pullback After Yesterday's Rally of 2.01%

By James Quinn

iShares MSCI South Africa Index Fund (AMEX:EZA) traded in a range yesterday that spanned from a low of $59.69 to a high of $60.49. Yesterday, the shares gained 2.0%, which took the trading range above the 3-day high of $59.86 on volume of 260,000 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 Africa Index Fund has traded in a range of $37.82 to $70.72 and is now at $60.39, 60% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 0.9%.

SmarTrend is monitoring the recent change of momentum in iShares MSCI South Africa Index Fund. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of iShares MSCI South Africa Index Fund in search of a potential trend change.

Keywords: rebounders amex:eza ishares msci south africa index fund

Ticker(s): EZA