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Watch for iShares MSCI South Korea Index Fund to Potentially Rebound After Falling 1.52% Yesterday

By David Diaz

iShares MSCI South Korea Index Fund (NYSE:EWY) traded in a range yesterday that spanned from a low of $59.43 to a high of $59.83. Yesterday, the shares fell 1.5%, which took the trading range below the 3-day low of $60.31 on volume of 1.2 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 South Korea Index Fund have traded between a low of $42.94 and a high of $62.78 and are now at $59.54, which is 39% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has remained constant.

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