EFA closes within prior day's range

iShares MSCI EAFE ETF (EFA) Technical Analysis Report for Feb 14, 2020 | by Techniquant Editorial Team


EFA breaks back below 50-day moving average
EFA closes lower for the 2nd day in a row
EFA closes within previous day's range


Moving lower for the 2nd day in a row, EFA ended the week 0.35% higher at 69.20 after losing $0.12 (-0.17%) today ahead of tomorrow's Presidents' Day market holiday. Closing within the prior day's range, prices missed to decisively move beyond the previous day's trading range.

Daily Candlestick Chart (EFA as at Feb 14, 2020):

Daily technical analysis candlestick chart for iShares MSCI EAFE ETF (EFA) as at Feb 14, 2020

Friday's trading range has been $0.31 (0.45%), that's slightly below the last trading month's daily average range of $0.38. Weekly volatility is also lower, being below the market's average weekly trading range. The longer-term, monthly volatility is currently slightly higher than usual for EFA.

EAFE ETF closed back below the 50-day moving average at 69.22. When this moving average was crossed below the last time on February 7th, EFA actually gained 0.20% on the following trading day.

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Selling could accelerate should prices move below the nearby swing low at 68.85 where further sell stops might get triggered.

Among the four market conditions that our pattern recognition engine identified today, the statistics for the Price Action based market condition "2 Consecutive Lower Closes" stand out. While it is usually interpreted as bearish, it has actually shown to be bullish for EAFE ETF. Out of 291 times, EFA closed higher 56.36% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 55.67% with an average market move of 0.41%.

Market Conditions for EFA as at Feb 14, 2020

Loading Market Conditions for EFA (iShares MSCI EAFE ETF)...
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