SmarTrend Watching for Potential Rebound in Shares of iShares MSCI Japan Index Fund After 1.20% Loss
iShares MSCI Japan Index Fund (NYSE:EWJ) traded in a range yesterday that spanned from a low of $12.37 to a high of $12.44. Yesterday, the shares fell 1.2%, which took the trading range below the 3-day low of $12.45 on volume of 12.4 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
iShares MSCI Japan Index Fund share prices have moved between a 52-week high of $13.32 and a 52-week low of $10.18 and are now trading 22% above that low price at $12.38 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has slid 0.2%.
SmarTrend recommended that subscribers consider buying shares of iShares MSCI Japan Index Fund on March 30th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $11.63. Since that recommendation, shares of iShares MSCI Japan Index Fund have risen 7.7%. We continue to monitor EWJ for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders ishares msci japan index fund