iShares MSCI South Africa Index

AAA

For today's chart we've chosen to take a look at the iShares MSCI South Africa Index (AMEX:EZA) because it is testing the support of a long-term trendline. As you can see from the chart below, the sloping support level has prevented the bears from pushing the ETF lower in the past and there is no reason to believe that this story will change now. We believe that this ETF may experience added buying pressure from investors looking to diversify their holdings beyond the U.S markets. I'll maintain a bullish outlook on EZA until it closes below $110.



comments powered by Disqus
Related Analysis
  1. The ADX Shows Strong Uptrends In These 4 Stocks
    Chart Advisor

    The ADX Shows Strong Uptrends In These 4 Stocks

  2. Falling Prices Are Dragging These Gold Stocks Down
    Chart Advisor

    Falling Prices Are Dragging These Gold Stocks Down

  3. Invest In Dividend Aristocrats With This ETF
    Chart Advisor

    Invest In Dividend Aristocrats With This ETF

  4. Downward Trend Channels for the Market Correction
    Chart Advisor

    Downward Trend Channels for the Market Correction

  5. Oil, Oil Stocks: What The Charts Are Saying
    Chart Advisor

    Oil, Oil Stocks: What The Charts Are Saying

Trading Center