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iShares MSCI South Africa Index Fund Crosses Below its 10-day MA (EZA)

By David Diaz

iShares MSCI South Africa Index Fund (AMEX:EZA) shares have crossed bearishly below their 10-day moving average of $58.92 on a volume of 420K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, iShares MSCI South Africa Index Fund share prices have been bracketed by a low of $37.82 and a high of $70.72 and are now at $58.64, 55% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.9% while the 200-day MA has slid 0.5%.

SmarTrend recommended that subscribers consider buying shares of iShares MSCI South Africa Index Fund on April 13th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $57.42. Since that recommendation, shares of iShares MSCI South Africa Index Fund have risen 3.5%. We continue to monitor EZA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses amex:eza ishares msci south africa index fund

Ticker(s): EZA