SmarTrend Watching for Potential Rebound in Shares of iShares MSCI Taiwan Index Fund After 1.09% Loss
iShares MSCI Taiwan Index Fund (NYSE:EWT) traded in a range yesterday that spanned from a low of $15.40 to a high of $15.48. Yesterday, the shares fell 1.1%, which took the trading range below the 3-day low of $15.47 on volume of 3.3 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 Taiwan Index Fund on June 6th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $13.75. Since that recommendation, shares of iShares MSCI Taiwan Index Fund have risen 13.4%. We continue to monitor EWT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
In the past 52 weeks, iShares MSCI Taiwan Index Fund share prices have been bracketed by a low of $11.21 and a high of $16.64 and are now at $15.42, 38% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has remained constant.
Keywords: rebounders ishares msci taiwan index fund