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SmarTrend Watching for Potential Rebound in Shares of iShares MSCI Brazil Index Fund After 1.78% Loss

By Amy Schwartz

iShares MSCI Brazil Index Fund (NYSE:EWZ) traded in a range yesterday that spanned from a low of $33.61 to a high of $34.27. Yesterday, the shares fell 1.8%, which took the trading range below the 3-day low of $34.21 on volume of 10.6 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend is tracking the current trend status for iShares MSCI Brazil Index Fund and will alert subscribers who have EWZ in their portfolio or watchlist when shares have changed trend direction.

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 $40.80 and are now at $33.72, 95% above that low price. Over the past week, 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