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SmarTrend Watching for Potential Rebound in Shares of iShares MSCI Brazil Index Fund After 4.46% Loss

By James Quinn

iShares MSCI Brazil Index Fund (NYSE:EWZ) traded in a range yesterday that spanned from a low of $27.58 to a high of $28.31. Yesterday, the shares fell 4.5%, which took the trading range below the 3-day low of $27.73 on volume of 17.6 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of iShares MSCI Brazil Index Fund have traded between a low of $17.30 and a high of $37.35 and are now at $27.69, which is 60% above that low price. 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%.

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.

Keywords: rebounders ishares msci brazil index fund

Ticker(s): EWZ