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Look for Shares of iShares MSCI Brazil Index Fund to Potentially Rebound after Yesterday's 4.46% Sell Off

By James Quinn

iShares MSCI Brazil Index Fund (NYSE:EWZ) traded in a range yesterday that spanned from a low of $27.58 to a high of $28.31. Yesterday, the shares fell 4.5%, which took the trading range below the 3-day low of $27.73 on volume of 17.6 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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.

iShares MSCI Brazil Index Fund share prices have moved between a 52-week high of $37.35 and a 52-week low of $17.30 and are now trading 60% above that low price at $27.69 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