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Look for Shares of iShares MSCI South Korea Index Fund to Potentially Pullback after Yesterday's 1.47% Rise

By Amy Schwartz

iShares MSCI South Korea Index Fund (NYSE:EWY) traded in a range yesterday that spanned from a low of $58.95 to a high of $59.27. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $58.44 on volume of 1.3 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 South Korea Index Fund on January 11th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $55.64. Since that recommendation, shares of iShares MSCI South Korea Index Fund have risen 4.9%. We continue to monitor EWY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

iShares MSCI South Korea Index Fund share prices have moved between a 52-week high of $61.75 and a 52-week low of $42.94 and are now trading 38% above that low price at $59.24 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has remained constant.

Keywords: rebounders ishares msci south korea index fund

Ticker(s): EWY