iShares MSCI EAFE Is Moving Above Resistance
Published on Monday, 22 April 2013 09:28 Written by TradersHuddle Wire
New York, April 22nd (TradersHuddle.com) - Shares of iShares MSCI EAFE Index Fund (NYSE:EFA) closed the session at $59.10 just above calculated resistance at $56.68. The stock effectively broke out and grasped the attention of momentum traders, which could eventually push the stock to a different trading range.
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 stock was trading in a well defined range with support at $47.29 and resistance at $56.68. Given that this range was broken, traders will be closely monitoring iShares MSCI EAFE's price action to gather clues on the future direction.
From a technical perspective, it can be expected that previous resistance becomes support, as the new range gets defined. However, given that iShares MSCI EAFE is still near the broken resistance level, traders will be focusing on the $56.68 level to see if the stock holds the breakout without rolling over.
- AT&T And America Movil To Provide Deeper National Reach For Advanced Enterprise Services Across Latin America
- AT&T 4G LTE Available In Willimantic
- AT&T 4G LTE Available In Torrington
- AT&T And The University Of Kansas Team Up To Enhance Wireless Coverage On Lawrence Campus
- AT&T 4G LTE Available In Fargo
- AT&T 4G LTE Available In Amarillo
- Benefitfocus Announces Pricing of Initial Public Offering
- Trends of China Gear Industry 2013 Analysis & Reviewed in New Research Report at RnRMarketResearch.com
- Product Launch Formula 4.0 Bonuses Total $5000 at BrianHanson.com
- Datex Presents Motorola Solutions Webinar “Is It ‘Smart’ to Use Smartphones for the Enterprise?”