(EWZ) iShares MSCI Brazil - Ratings and Ratios

The iShares MSCI Brazil ETF (NYSE ARCA:EWZ) is an investment fund that tracks the performance of the Brazilian equity market, focusing on large- and mid-capitalization segments. By investing at least 80% of its assets in the component securities of its underlying index, the fund provides a representation of the Brazilian markets overall performance.

The underlying index is a free float-adjusted market capitalization-weighted index, meaning that the funds holdings are proportionate to the market capitalization of the constituent companies, adjusted for the amount of shares available for trading. This approach ensures that the funds performance is closely tied to the overall Brazilian equity market.

As a non-diversified fund, EWZ is more concentrated in its holdings, which can result in higher volatility. However, this also means that the fund is more closely aligned with the performance of the underlying index, making it a suitable choice for investors seeking to gain exposure to the Brazilian market.

Analyzing the data, we can see that the fund has multiple support levels between 24.2 and 27.5, indicating a potential range for the price. Currently, the price is at 27.62, which is above the 20-day SMA of 27.75. The 50-day SMA is at 26.64, and the 200-day SMA is at 26.10, indicating an overall upward trend.

Using the and , we can forecast that EWZ will continue to experience volatility due to its exposure to the Brazilian equity market. However, with an AUM of $4.37 billion, the fund has a significant presence in the market. If the price breaks above the resistance level of 28.3, it could potentially reach the 52-week high of 29.56. Conversely, if the price falls below the support level of 26.8, it may continue to decline towards the 200-day SMA at 26.10. Based on the current trend and support levels, a potential price target for EWZ could be around 28.8, representing a 4.5% increase from the current price.