Look for Shares of iShares MSCI Emerging Markets Index Fund/United States to Potentially Rebound after Yesterday's 2.44% Sell Off
iShares MSCI Emerging Markets Index Fund/United States (NYSE:EEM) traded in a range yesterday that spanned from a low of $36.06 to a high of $36.55. Yesterday, the shares fell 2.4%, which took the trading range below the 3-day low of $36.14 on volume of 63.9 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 Emerging Markets Index Fund/United States share prices have been bracketed by a low of $27.61 and a high of $43.46 and are now at $36.13, 31% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.7%.
SmarTrend recommended that subscribers consider buying shares of iShares MSCI Emerging Markets Index Fund/United States on July 12th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $35.31. Since that recommendation, shares of iShares MSCI Emerging Markets Index Fund/United States have risen 4.7%. We continue to monitor EEM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders ishares msci emerging markets index fund/united states