With no changes to any of the iShares models this week, we look at the iShares MSCI Brazil ETF (EWZ).
There are no changes to any of the iShares models this week. International equities sit at the top of the DALI asset class rankings after overtaking domestic equities in early February with Latin America leading the rankings within international. Investors looking to add international exposure may wish to consider the iShares MSCI Brazil ETF (EWZ). EWZ currently has a near-perfect 5.91 fund score, which is 1.38 points better than the average for all international equity funds and a positive 3.32 score direction.
After briefly falling to a sell signal on its trend chart, EWZ found support at $36, and rallied, returning to a buy signal in Tuesday’s (3/10) trading when it broke a double top at $38. EWZ sits well within actionable territory on its 10-week trading band, with a weekly overbought/oversold (OBOS) reading of 27%. Beyond the most recent support at $36, the next level of potential support on EWZ’s chart is its bullish support line at $32.50. Year-to-date (through 3/11) EWZ has gained 18.38% on a price return basis; the fund also carries a 4.26% yield.
