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SmarTrend Watching for Potential Pullback in Shares of iShares MSCI Emerging Markets Index Fund/United States After 1.39% Gain

By Nick Russo

iShares MSCI Emerging Markets Index Fund/United States (NYSE:EEM) traded in a range yesterday that spanned from a low of $39.68 to a high of $40.06. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $39.65 on volume of 40.6 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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 $40.03, 45% above that low. 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 January 5th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $36.04. Since that recommendation, shares of iShares MSCI Emerging Markets Index Fund/United States have risen 9.6%. 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

Ticker(s): EEM