iShares MSCI EAFE Is Close to its 50 Day Moving Average

Published on Tuesday, 05 March 2013 08:28 Written by TradersHuddle Wire

New York, March 5th (TradersHuddle.com) - iShares MSCI EAFE Index Fund (NYSE:EFA) closed the trading day at $58.35, near its 50 day moving average that is set at $57.96. iShares MSCI EAFE's price action is just above this important support level, providing a trading opportunity.

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.

The peaks and troughs algorithm shows calculated support at $47.29 and calculated resistance at $56.68. These levels should also be evaluated when planning trades, as they provide an insight into the latest price action.

Traders wanting to establish a position on iShares MSCI EAFE should look for evidence of buying near the 50 day moving average, and open this position as close as possible to this important level. Also, they need to consider the latest range defined by the peaks and troughs algorithm for insights on other key levels that might impact an upside or downside move.