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Watch for iShares FTSE to Potentially Pullback After Gaining 1.69% Yesterday

By Nick Russo

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.

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.

In the past 52 weeks, shares of iShares FTSE have traded between a low of $28.10 and a high of $52.37 and are now at $37.88, which is 35% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has advanced 0.5%.

Keywords: rebounders ishares ftse

Ticker(s): FXI