economy
February 23, 2026
The stars are aligning for this country ETF, says Katie Stockton
Katie Stockton takes a look at the charts on this ETF tracking South African stocks.
TL;DR
- South Africa's stock market has been in a steady uptrend for almost two years.
- The iShares MSCI South Africa ETF (EZA) has re-established short-term momentum within its long-term uptrend.
- Technical indicators like a bullish MACD crossover and support at the 50-day MA and cloud model signal positive momentum.
- South African equities have outperformed the U.S. market since the start of 2025, with potential for continued relative strength.
- Overbought/oversold indicators do not yet signal upside exhaustion, and EZA faces no overhead resistance as it trades near all-time highs.
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