Wagner notes that although EWD looks good on its monthly chart, “it still needs to breakout in order to generate a buy entry.”
Earlier this month, EWD crossed above its 50-day moving average after a brief dip below that line. The ETF resides 1.6% above its 50-day moving average and nearly 6% above its 200-day line. EWD is also a decent yield play with a trailing 12-month yield of 3.63%, according to iShares data.
iShares MSCI Sweden ETF
ETF Trends editorial team contributed to this article.