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Look for Shares of iShares MSCI Brazil Index Fund to Potentially Rebound after Yesterday's 3.91% Sell Off

By Nick Russo

iShares MSCI Brazil Index Fund (NYSE:EWZ) traded in a range yesterday that spanned from a low of $32.92 to a high of $33.77. Yesterday, the shares fell 3.9%, which took the trading range below the 3-day low of $33.60 on volume of 14.9 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend is tracking the current trend status for iShares MSCI Brazil Index Fund and will alert subscribers who have EWZ in their portfolio or watchlist when shares have changed trend direction.

iShares MSCI Brazil Index Fund share prices have moved between a 52-week high of $40.80 and a 52-week low of $17.30 and are now trading 91% above that low price at $33.09 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.4% while the 200-day MA has slid 0.3%.

Keywords: rebounders ishares msci brazil index fund

Ticker(s): EWZ