iShares MSCI EAFE near Support

efa New York, June 10th (TradersHuddle.com) - Shares of iShares MSCI EAFE Index Fund (NYSE:EFA) finished near calculated support at $58.87.

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.

iShares MSCI EAFE's stock range is defined by its calculated support defined at $58.87 and by the resistance level at $63.26.

The area where we expect for buyers to materialize is defined as calculated support. A stock trading near its support level might see a lift, if it provides the necessary support for traders to place their buy orders. However, if this area is breached, it will signal participants that the stock failed to entice buyers to step in and support the stock, which in turn will spur additional downward momentum.

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 $63.26 might limit their upside, however, if the stock breaks resistance, it could be a good point to step in and add to the position.

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