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Look for Shares of iShares MSCI Taiwan Index Fund to Potentially Pullback after Yesterday's 2.42% Rise

By Amy Schwartz

iShares MSCI Taiwan Index Fund (NYSE:EWT) traded in a range yesterday that spanned from a low of $15.53 to a high of $15.66. Yesterday, the shares gained 2.4%, which took the trading range above the 3-day high of $15.26 on volume of 7.1 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 Taiwan Index Fund on June 6th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $13.75. Since that recommendation, shares of iShares MSCI Taiwan Index Fund have risen 11.0%. We continue to monitor EWT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Over the past year, iShares MSCI Taiwan Index Fund has traded in a range of $11.21 to $16.64 and is now at $15.65, 40% above that low. The 200-day and 50-day moving averages have moved 0.39% lower and 0.05% higher over the past week, respectively.

Keywords: rebounders ishares msci taiwan index fund

Ticker(s): EWT