iShares MSCI South Korea Index Fund Set to Possibly Pullback After Yesterday's Rally of 3.02%
iShares MSCI South Korea Index Fund (NYSE:EWY) traded in a range yesterday that spanned from a low of $58.11 to a high of $58.96. Yesterday, the shares gained 3.0%, which took the trading range above the 3-day high of $57.34 on volume of 2.3 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
iShares MSCI South Korea Index Fund share prices have moved between a 52-week high of $61.75 and a 52-week low of $42.94 and are now trading 37% above that low price at $58.96 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.7%.
SmarTrend recommended that subscribers consider buying shares of iShares MSCI South Korea Index Fund on June 6th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $51.96. Since that recommendation, shares of iShares MSCI South Korea Index Fund have risen 10.1%. We continue to monitor EWY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders ishares msci south korea index fund