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SmarTrend Watching for Potential Rebound in Shares of iShares MSCI Brazil Index Fund After 6.28% Loss

By David Diaz

iShares MSCI Brazil Index Fund (NYSE:EWZ) traded in a range yesterday that spanned from a low of $31.11 to a high of $32.57. Yesterday, the shares fell 6.3%, which took the trading range below the 3-day low of $33.14 on volume of 26.9 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend is monitoring the recent change of momentum in iShares MSCI Brazil Index Fund. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of iShares MSCI Brazil Index Fund in search of a potential trend change.

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 $38.50 and are now at $31.64, 83% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 2.4%.

Keywords: rebounders ishares msci brazil index fund

Ticker(s): EWZ