SmarTrend Watching for Potential Pullback in Shares of iShares MSCI Mexico Investable Market Index Fund After 1.93% Gain
iShares MSCI Mexico Investable Market Index Fund (AMEX:EWW) traded in a range yesterday that spanned from a low of $48.15 to a high of $48.76. Yesterday, the shares gained 1.9%, which took the trading range above the 3-day high of $47.70 on volume of 3.7 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
iShares MSCI Mexico Investable Market Index Fund share prices have moved between a 52-week high of $60.92 and a 52-week low of $43.17 and are now trading 12% above that low price at $48.47 per share. The 200-day and 50-day moving averages have moved 0.2% lower and 0.67% higher over the past week, respectively.
SmarTrend recommended that its subscribers protect gains by selling shares of iShares MSCI Mexico Investable Market Index Fund on August 31st, 2016 by issuing a Downtrend alert when the shares were trading at $50.40. Since that call, shares of iShares MSCI Mexico Investable Market Index Fund have fallen 5.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: rebounders amex:eww ishares msci mexico investable market index fund