Look for Shares of iShares MSCI Emerging Markets Index Fund/United States to Potentially Pullback after Yesterday's 1.15% Rise
iShares MSCI Emerging Markets Index Fund/United States (NYSE:EEM) traded in a range yesterday that spanned from a low of $36.88 to a high of $37.10. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $36.86 on volume of 27.3 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
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 3.4%. We continue to monitor EEM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Over the past year, iShares MSCI Emerging Markets Index Fund/United States has traded in a range of $27.61 to $43.46 and is now at $37.01, 34% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.7%.
Keywords: rebounders ishares msci emerging markets index fund/united states