Market Overview

Shares of EWI Down 14.0% Since Downtrend Call on Shares

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(via COMTEX News Network)--

SmarTrend identified a Downtrend for iShares MSCI Italy Index Fund (NYSE: EWI) on May 17, 2011 at $18.30. In approximately 3 months, iShares MSCI Italy Index Fund has returned 14% as of today's recent price of $15.74.

In the past 52 weeks, shares of iShares MSCI Italy Index Fund have traded between a low of $14.51 and a high of $20.15 and are now at $15.74, which is 8% above that low price.

iShares MSCI Italy Index Fund is currently below its 50-day moving average of $17.14 and below its 200-day moving average of $17.67. Look for these moving averages to decline to confirm the company's downward momentum.

In the last five trading sessions, the 50-day MA has fallen 1.39% while the 200-day MA has slid 0.19%.

SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any changes in momentum for shares of iShares MSCI Italy Index Fund.

Write to Chip Brian at cbrian@mysmartrend.com

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