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Watch for iShares MSCI Mexico Investable Market Index Fund to Potentially Rebound After Falling 2.46% Yesterday

By Shiri Gupta

iShares MSCI Mexico Investable Market Index Fund (AMEX:EWW) traded in a range yesterday that spanned from a low of $50.63 to a high of $51.95. Yesterday, the shares fell 2.5%, which took the trading range below the 3-day low of $51.05 on volume of 4.3 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of iShares MSCI Mexico Investable Market Index Fund have traded between a low of $41.23 and a high of $60.92 and are now at $50.84, which is 23% above that low price. 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 February 2nd, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $45.40. Since that recommendation, shares of iShares MSCI Mexico Investable Market Index Fund have risen 14.6%. We continue to monitor EWW for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders amex:eww ishares msci mexico investable market index fund

Ticker(s): EWW