Shares of iShares MSCI South Africa Index Fund (AMEX: EZA) are trading down 0.5% to $59.13 today on above average volume. Approximately 591,000 shares have traded hands today vs. average 30-day volume of 247,000 shares.

Spikes in volume can validate a breakout or signify a potential turning point. As such, SmarTrend will continue to monitor shares of EZA to see if this bearish momentum will continue.

SmarTrend currently has shares of iShares MSCI South Africa Index Fund in an Downtrend and issued the Downtrend alert on July 12, 2011 at $69.55. The stock has fallen 14.6% since the Downtrend alert was issued.

In the last five trading sessions, the 50-day MA has fallen 0.59% while the 200-day MA has remained constant.

In the past 52 weeks, shares of iShares MSCI South Africa Index Fund have traded between a low of $56.44 and a high of $77.58 and are now at $60.03, which is 6% above that low price.

Write to Chip Brian at [email protected]

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