SmarTrend Watching for Potential Pullback in Shares of iShares MSCI Brazil Index Fund After 1.22% Gain
iShares MSCI Brazil Index Fund (NYSE:EWZ) traded in a range yesterday that spanned from a low of $34.65 to a high of $35.06. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $35.06 on volume of 5.8 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 Brazil Index Fund on June 23rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $28.65. Since that recommendation, shares of iShares MSCI Brazil Index Fund have risen 20.3%. We continue to monitor EWZ for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
In the past 52 weeks, iShares MSCI Brazil Index Fund share prices have been bracketed by a low of $17.30 and a high of $37.35 and are now at $34.90, 102% above that low price. The 200-day and 50-day moving averages have moved 0.29% lower and 2.39% higher over the past week, respectively.
Keywords: rebounders ishares msci brazil index fund