SmarTrend Watching for Potential Rebound in Shares of iShares MSCI South Korea Index Fund After 1.80% Loss
iShares MSCI South Korea Index Fund (NYSE:EWY) traded in a range yesterday that spanned from a low of $51.57 to a high of $52.04. Yesterday, the shares fell 1.8%, which took the trading range below the 3-day low of $51.92 on volume of 2.2 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 South Korea Index Fund on March 3rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $48.78. Since that recommendation, shares of iShares MSCI South Korea Index Fund have risen 7.8%. We continue to monitor EWY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
In the past 52 weeks, iShares MSCI South Korea Index Fund share prices have been bracketed by a low of $42.94 and a high of $61.75 and are now at $51.60, 20% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has remained constant.
Keywords: rebounders ishares msci south korea index fund