Watch for iShares MSCI Mexico Investable Market Index Fund to Potentially Pullback After Gaining 2.13% Yesterday
iShares MSCI Mexico Investable Market Index Fund (AMEX:EWW) traded in a range yesterday that spanned from a low of $53.47 to a high of $54.25. Yesterday, the shares gained 2.1%, which took the trading range above the 3-day high of $53.46 on volume of 3.0 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
iShares MSCI Mexico Investable Market Index Fund share prices have moved between a 52-week high of $60.92 and a 52-week low of $43.17 and are now trading 25% above that low price at $54.13 per share. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.7%.
SmarTrend recommended that subscribers consider buying shares of iShares MSCI Mexico Investable Market Index Fund on July 12th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $50.92. Since that recommendation, shares of iShares MSCI Mexico Investable Market Index Fund have risen 4.0%. We continue to monitor EWW for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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