iShares MSCI EAFE near Support

Published on Monday, 09 July 2012 08:28 Written by TradersHuddle Wire

New York, July 9th (TradersHuddle.com) - Shares of iShares MSCI EAFE Index Fund (NYSE:EFA) are trading very close to calculated support at $47.25 with price action closing at just $49.44 and placing the stock near levels where traders will start paying attention.

iShares MSCI EAFE Index Fund (NYSE:EFA) is an ETF with the investment objective to seek investment results that correspond to the price and yield performance of equities traded in the Australasia, European and Far Eastern markets, as measured by the MSCI EAFE Index. The underlying index measures international equity performance. It includes 21 MSCI country indices, representing the developed markets outside of North America, including Europe, Australasia and the Far East.

Traders wanting to establish a position should pay close attention to iShares MSCI EAFE's price action, and establish it as close to support as possible, but only after buying materializes. Traders should understand that the resistance point at $50.79 might limit their upside, however, if the stock breaks resistance, it could be a good point to add to the position.

iShares MSCI EAFE Index Fund (NYSE:EFA) is an ETF with the investment objective to seek investment results that correspond to the price and yield performance of equities traded in the Australasia, European and Far Eastern markets, as measured by the MSCI EAFE Index. The underlying index measures international equity performance. It includes 21 MSCI country indices, representing the developed markets outside of North America, including Europe, Australasia and the Far East.