Watch for iShares FTSE to Potentially Pullback After Gaining 1.69% Yesterday
iShares FTSE (NYSE:FXI) traded in a range yesterday that spanned from a low of $37.79 to a high of $38.00. Yesterday, the shares gained 1.7%, which took the trading range above the 3-day high of $37.78 on volume of 7.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
In the past 52 weeks, iShares FTSE share prices have been bracketed by a low of $28.10 and a high of $52.37 and are now at $37.88, 35% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has slid 0.6%.
SmarTrend recommended that subscribers consider buying shares of iShares FTSE on July 14th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $35.48. Since that recommendation, shares of iShares FTSE have risen 5.0%. We continue to monitor FXI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders ishares ftse