iShares MSCI Spain closed on Friday above its 4 year high! Investors made huge profits already, but it looks like the bulls are still in total control. And this is not a surpise, as EWP is holding some of the most popular brands in the world including Santander Bank, Telefonica, BBVA and others!
The fund shares were trading for $26 in late October and rallied with almost $5 until early December. In other words, for roughly 1 month, investors returned about 20% profit! Around this time of the year, 5 years ago EWP was trading around $35 per share. Do you think it may revisit those level?
Strong demand from buyers, improving inflation levels, strong employment and pause in rate hikes all point in this direction. We have an idea about EWI next price swing. Please visit our Premium section to see our preferred direction.
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