iShares MSCI Taiwan Index Fund Set to Possibly Rebound After Yesterday's Selloff of 2.10%
iShares MSCI Taiwan Index Fund (NYSE:EWT) traded in a range yesterday that spanned from a low of $14.78 to a high of $14.93. Yesterday, the shares fell 2.1%, which took the trading range below the 3-day low of $14.85 on volume of 5.4 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
Over the past year, iShares MSCI Taiwan Index Fund has traded in a range of $11.21 to $16.64 and is now at $14.81, 32% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has remained constant.
SmarTrend recommended that subscribers consider buying shares of iShares MSCI Taiwan Index Fund on June 6th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $13.75. Since that recommendation, shares of iShares MSCI Taiwan Index Fund have risen 9.8%. We continue to monitor EWT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders ishares msci taiwan index fund