• Return to Headlines

SmarTrend Watching for Potential Rebound in Shares of iShares MSCI South Africa Index Fund After 1.72% Loss

By Nick Russo

iShares MSCI South Africa Index Fund (AMEX:EZA) traded in a range yesterday that spanned from a low of $58.21 to a high of $58.92. Yesterday, the shares fell 1.7%, which took the trading range below the 3-day low of $59.37 on volume of 866,000 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 South Africa Index Fund on April 13th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $57.42. Since that recommendation, shares of iShares MSCI South Africa Index Fund have risen 3.5%. We continue to monitor EZA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Over the past year, iShares MSCI South Africa Index Fund has traded in a range of $37.82 to $70.72 and is now at $58.39, 54% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.9% while the 200-day MA has slid 0.5%.

Keywords: rebounders amex:eza ishares msci south africa index fund

Ticker(s): EZA