EFA is one of the most popular ETF funds that provides global diversification among the index funds. It includes stocks from Europe, Australasia and the Far East. Based on Yahoo Finance next year's estimated EPS, the top 15 holdings' average forward P/E is 12.8 with biggest sector in Financial. In my opinion it is attractive at this level.
With market cap of $35,000M, average daily volume of 18M shares and dividend of 3.42%, the fund is well liquidated and ideal for short term trading and long term holding as growth and dividend play.
As for technical analysis using the moving average cross-over on the weekly chart, the MA-4 is over the MA-39 and there were many occurrences with weekly closing high since 5/22 when the cross-over began.
It seems that the fund still has more room on the up side. The next resistant level may be around $65 from last Friday close of $55.34. EFA may be the fund that can be categorized as a "must own" in my opinion for immediate-term and long-term play if you like to own some international index fund in your investment portfolio.
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