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Look for Shares of iShares MSCI Brazil Index Fund to Potentially Rebound after Yesterday's 16.41% Sell Off

By Shiri Gupta

iShares MSCI Brazil Index Fund (NYSE:EWZ) traded in a range yesterday that spanned from a low of $31.78 to a high of $34.14. Yesterday, the shares fell 16.4%, which took the trading range below the 3-day low of $39.04 on volume of 111.7 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, iShares MSCI Brazil Index Fund share prices have been bracketed by a low of $17.30 and a high of $40.80 and are now at $32.63, 89% above that low price. The 200-day and 50-day moving averages have moved 0.29% lower and 2.39% higher over the past week, respectively.

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

Keywords: rebounders ishares msci brazil index fund

Ticker(s): EWZ