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Watch for iShares MSCI South Korea Index Fund to Potentially Pullback After Gaining 1.27% Yesterday

By Amy Schwartz

iShares MSCI South Korea Index Fund (NYSE:EWY) traded in a range yesterday that spanned from a low of $55.81 to a high of $56.14. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $55.62 on volume of 1.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, iShares MSCI South Korea Index Fund has traded in a range of $42.94 to $61.75 and is now at $56.04, 31% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.7%.

SmarTrend is monitoring the recent change of momentum in iShares MSCI South Korea Index Fund. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of iShares MSCI South Korea Index Fund in search of a potential trend change.

Keywords: rebounders ishares msci south korea index fund

Ticker(s): EWY