SmarTrend Watching for Potential Rebound in Shares of iShares MSCI Brazil Index Fund After 1.00% Loss
iShares MSCI Brazil Index Fund (NYSE:EWZ) traded in a range yesterday that spanned from a low of $27.29 to a high of $27.90. Yesterday, the shares fell 1.0%, which took the trading range below the 3-day low of $27.64 on volume of 7.2 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
SmarTrend recommended that subscribers consider buying shares of iShares MSCI Brazil Index Fund on February 4th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $20.45. Since that recommendation, shares of iShares MSCI Brazil Index Fund have risen 36.9%. We continue to monitor EWZ for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
iShares MSCI Brazil Index Fund share prices have moved between a 52-week high of $37.35 and a 52-week low of $17.30 and are now trading 60% above that low price at $27.69 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.4% while the 200-day MA has slid 0.3%.
Keywords: rebounders ishares msci brazil index fund