South Africa ETF EZA

South Africa ETF closed down by -2.03% to 47.68 on 23 January 2021 and +-1.28% on a weekly basis. South Africa ETF momentum was last calculated at +0.0/100 indicating positive momentum. South Africa ETF trend is +25.0/100 indicating a positive trend. South Africa ETF momentum exhaustion is 1.00217 indicating South Africa ETF is oversold.South Africa ETF RSI is 52.0663 .

South Africa ETF EZA Chart

South Africa ETF EZA

South Africa ETF EZA Statistics

MacroVar multi-factor statistical models monitor financial factors which are used to analyze and predict the South Africa ETF. Click here to explore the financial factors monitored and their current signals.

Click here to explore the methodology used for estimating the South Africa ETF trading signals presented in the South Africa ETF statistics table.

Security Symbol Last Momentum Trend Oscillator RSI 1D% 1W% 1M% 1Y%
South Africa ETF EZA 47.68 0 0.25 1.00217 52.0663 -2.03 -1.28 -6.05 -0.09568

South Africa ETF closed at 47.68 on 23 January 2021. South Africa ETF trend was last calculated at +25.0/100 (range: -100 to +100) indicating a positive trend based on MacroVar models. South Africa ETF momentum was last calculated at +0.0/100 (range: -100 to +100) indicating positive momentum. South Africa ETF momentum exhaustion is 1.00217 (normal range: -2.5 to +2.5, overbought values: greater than 2.5, oversold values: less than 2.5) indicating South Africa ETF is oversold and a possible reversal is imminent. South Africa ETF RSI was last calculated at 52.0663. South Africa ETF moving averages were last recorded as follows: 1-month moving average: 43.9925 in a downtrend , 1-quarter moving average: 41.7088 in an uptrend and 1-year moving average: 38.2573 in a downtrend. South Africa ETF annual return was last recorded at None%, daily return was last recorded at -2.03%, and weekly return was last recorded at -1.28%. South Africa ETF histrorical 20-day volatility was last recorded at 23.9377%, South Africa ETF alpha None, South Africa ETF beta None and South Africa ETF maximum drawdown was recorded at None%. MacroVar models monitor South Africa ETF statistics based on historical data since 1970.

South Africa ETF EZA News

South Africa ETF Factors

South Africa ETF

Factor Symbol Last Value Predicted Value R2 MacroVar Signal
South Africa PMI vs ETF SA.FACT.ETFPMI 37.77 42.7087 -1.13671

South Africa ETF related Indicators

South Africa ETF

Security Type Symbol Last Momentum Trend Oscillator RSI 1D% 1W% 1M% 1Y%
Budapest SE Stock Index BUX 47882.6 1 0.75 1.16624 69.6331 1.48 -1.53 10.44 -0.08431
FTSE/JSE Top 40 Stock Index JTOPI 60502.4 0 0.75 1.22422 56.7516 -2.03 1.24 -2.16 0.04909
South Africa PMI vs ETF ETF vs PMI Factor SA.FACT.ETFPMI 37.77

South Africa Markets

Market Symbol Last Mom Trend Exh RSI 1D% 1W% 1M% 1Y%
FTSE/JSE Top 40 JTOPI 60502.4 0 0.75 1.22422 56.7516 -2.03 1.24 -2.16 0.04909
South Africa ETF EZA 47.68 0 0.25 1.00217 52.0663 -2.03 -1.28 -6.05 -0.09568
South African Rand US Dollar (ZAR/USD) ZARUSD 14.57 -0.5 -0.75 -1.49972 39.1807 0.63 2.5 2.39 0.02077
South Africa 10-Year Bond Yield ZA.10Y 8.95 -1 -0.75 -0.99626 36.539 -0.06 0.67 -2.93 0.04903
South Africa 5-Year Bond Yield ZA.5Y 7.5 -1 -1 -1.19368 26.5247 -0.92 1.21 2.74 -0.18613
South Africa 2-Year Bond Yield SA.2Y 5.18 -1 -0.75 -0.88899 40.2687 -0.19 0 9.51 -0.33005
South Africa Yield Curve SA.YC 3.78 0 -0.25 0.15664 45.17 0.4 1.89 -16.46 1.70701
South Africa Credit Default Swaps CDS.South-Africa 201 -1 -0.75 -1.023 38.4864 2.03 8.06 -5.63 0.29898

South Africa Economic Indicators

Indicator Actual Previous M/M% Y/Y% Trend Slope ZS5Y Update
balance of trade 11828.6 33064.8 -0.64226 -5.37853 -1.0 1.0 0.0666667 2021-01-31
bank lending rate 7 7.25 -0.0344828 -0.3 -1.0 -1.0 0.0166667 2020-07-31
banks balance sheet 6490710 6429640 0.0094982 -0.00808422 -1.0 -1.0 0.05 2021-05-31
business confidence 50 35 0.428571 0.25 1.0 1.0 0.875 2021-03-01
capacity utilization 74.6 78.1 -0.0448143 -0.0824108 -1.0 -1.0 0.1 2021-01-01
car registrations 24482 24122 0.0149241 0.27977 1.0 1.0 0.966667 2021-06-30
central bank balance sheet 886166 846974 0.046273 -0.126956 -1.0 -1.0 0.1 2021-06-30
composite pmi 51 53.2 -0.0413534 0.2 1.0 1.0 0.966667 2021-06-30
consumer confidence -13 -9 0.444444 -1.59091 -1.0 -1.0 0.283333 2021-04-01
consumer price index cpi 120.2 120.1 0.000832639 0.0516185 1.0 1.0 0.783333 2021-05-31
core inflation rate 3.1 3 0.0333333 0 -1.0 -1.0 0.783333 2021-05-31
current account 267348 197818 0.351485 -2.21854 1.0 1.0 0.05 2021-03-01
current account to gdp 2.2 -3 -1.73333 -1.30556 1.0 1.0 0 2019-02-28
deposit interest rate 3.77 3.74 0.00802139 -0.281905 -1.0 -1.0 0.2 2021-04-30
exports 161473 168286 -0.0404847 2.12614 1.0 1.0 0.983333 2021-04-30
external debt 164726 170836 -0.0357653 -0.101032 -1.0 -1.0 0.0333333 2021-01-01
fiscal expenditure 114102 160210 -0.287797 -0.0465519 -1.0 -1.0 0.166667 2021-05-31
foreign direct investment 6138 16010 -0.616615 -0.341699 -1.0 -1.0 0.483333 2021-01-31
foreign exchange reserves 54473 54139 0.0061693 0.0411506 -1.0 1.0 0.6 2021-06-30
gdp 351.432 368.289 -0.0457711 0.173729 1.0 1.0 0 2019-01-31
Real GDP 2933980 2578670 0.137788 -0.0637778 -1.0 -1.0 0.0333333 2020-09-01
gdp growth 4.6 5.8 -0.206897 -2.7037 1.0 1.0 0.0666667 2021-01-01
gdp growth annual -3.2 -4.2 -0.238095 -3.28571 -1.0 -1.0 0.0833333 2021-01-01
gold reserves 125.35 125.31 0.000319208 0.000558748 1.0 1.0 0.116667 2020-08-01
government budget -12.3 -6.7 0.835821 11.3 -1.0 -1.0 0 2020-01-31
Government budget -17928 -74457 -0.759217 -0.65325 1.0 1.0 0.166667 2021-05-31
government debt 76176 78295 -0.0270643 -0.0602633 1.0 -1.0 0.0833333 2021-01-01
government debt to gdp 83 62.2 0.334405 1.98561 1.0 1.0 0 2019-02-28
government revenues 96174 85754 0.12151 0.414948 -1.0 1.0 1 2021-05-31
housing index 544.475 539.711 0.00882695 0.0917799 1.0 1.0 0.983333 2016-11-30
imports 110230 115517 -0.0457682 0.25217 1.0 1.0 0.966667 2021-04-30
industrial production 35.3 88.1 -0.599319 -2.09288 1.0 1.0 0.4 2021-05-31
industrial production mom -2.6 -1.2 1.16667 -1.09286 -1.0 -1.0 0.466667 2021-05-31
inflation cpi 5.2 4.4 0.181818 1.47619 1.0 1.0 1 2021-05-31
interbank rate 3.68 3.68 0 0.0027248 1.0 1.0 0.766667 2021-06-02
interest rate 3.5 3.5 0 -0.333333 -1.0 -1.0 0.2 2021-05-20
loans to private sector 3986900 3958370 0.00720751 -0.00694434 1.0 -1.0 0.05 2021-05-31
manufacturing pmi 57.4 57.8 -0.00692042 0.0649351 1.0 1.0 0.666667 2021-06-30
money supply m0 294734 286346 0.0292932 0.0386552 -1.0 1.0 0.133333 2021-06-30
money supply m1 2231700 2196440 0.0160533 0.0859431 1.0 1.0 0.533333 2021-05-31
money supply m2 3447480 3465050 -0.00507063 0.0368361 1.0 1.0 0.0666667 2021-05-31
money supply m3 4142360 4111730 0.00744942 0.0170342 1.0 1.0 0.0166667 2021-04-30
Producer Price Index 103.9 103.5 0.00386473 0.0744571 1.0 1.0 1 2021-05-31
PPI Index 7.4 6.7 0.104478 23.6667 1.0 1.0 1 2021-05-31
retail sales MoM 2.1 -0.6 -4.5 -1.04251 -1.0 1.0 0.583333 2021-05-31
retail sales 15.8 95.7 -0.834901 -2.32773 1.0 1.0 0.216667 2021-05-31
total vehicle sales 38030 38337 -0.00800793 0.201884 1.0 1.0 0.95 2021-06-30
unemployment rate 32.6 32.5 0.00307692 0.220974 1.0 1.0 0 2021-01-01
youth unemployment rate 63.3 63.2 0.00158228 0.208015 1.0 1.0 0 2021-01-01
Lending Rate 10 10 0 -0.0243902 -1.0 -1.0 0 2020-01-31

South Africa ETF Trading Signals


MacroVar estimates the following signals: South Africa ETF momentum, South Africa ETF trend, South Africa ETF oscillator, South Africa ETF RSI and South Africa ETF returns.

South Africa ETF Momentum

Momentum trading is used to capture moves in shorter timeframes than trends. Momentum is the relative change occurring in markets. Relative change is different to a trend. A long-term trend can be up but the short-term momentum of a specific market can be 0. If a market moves down and then moves up and then moves back down the net relative change in price is 0. That means momentum is 0. A short-term positive momentum, with a long-term downtrend results in markets with no momentum.

MacroVarSouth Africa ETF momentum signal ranges from -100 to +100. The South Africa ETF momentum signal is derived as the mean value from 4 calculations for the South Africa ETF. The timeframes monitored are the following: 1 Day (1 trading day), 1 Week (5 trading days), 1 Month (20 trading days), 3 Months (60 trading days)
For each timeframe, the following calculations are performed: 1. South Africa ETF return is calculated for the specific timeframe and 2. if the return calculated is higher than 0, signal value output is 1 else signal value is -1. South Africa ETF EZA momentum signal is the aggregate of the the 4 values. A technical momentum rollover is identified when South Africa ETF momentum signal moves from positive to negative value or vice-versa.

South Africa ETF trend

South Africa ETF trend signal ranges from -100 to +100. South Africa ETF trend indicator is the mean value of the 8 calculations described below. The timeframes monitored are the following: 1-month (20 trading days), 3-months (60 trading days), 6-months (125 trading days), 1-year (250 trading days)
For each timeframe, the following calculations are performed: 1. South Africa ETF Closing price vs South Africa ETF moving average (MA) calculation: If South Africa ETF is greater than South Africa ETF MA value is +1, else -1, 2. South Africa ETF Moving average slope calculation: if current South Africa ETF moving average is higher than the previous MA, South Africa ETF upward slope +1, else -1
South Africa ETF trend model can be used as a trend strength indicator. South Africa ETF trend strength values ranging between +75 and +100 or -75 and -100 show strong trend strength.
A technical trend rollover is identified when South Africa ETF trend strength indicator moves from positive to negative value or vice-versa.

The most important trend indicator
The South Africa ETF 52-week simple moving average and its slope are the most important indicators defining a market’s trend. South Africa ETF is in an uptrend when South Africa ETF price is higher than the 52-week moving average and the South Africa ETF 52-week moving average has an upward slope. If fundamentals of the market have not changed and the moving average slope is still in uptrend, a price drop signifies a market correction and not a change of trend. Traders should watch oscillators like the South Africa ETF oscillator and South Africa ETF RSI to buy the dip and still follow the trend. The moving average slope turn signifies a change of trend.

South Africa ETF oscillator

The South Africa ETF oscillator estimated by MacroVar is the z-score of the current South Africa ETF price versus South Africa ETF 1-year simple moving average price. The formula for the South Africa ETF oscillator is:
South Africa ETF oscillator = (Current Price – 250 trading days South Africa ETF simple moving average price) / (250 days South Africa ETF price standard deviation)

South Africa ETF oversold conditions
South Africa ETF is oversold when it is subject to a persistent downward pressure due to extreme fund outflows. When the South Africa ETF is oversold it is often due for a rebound. Values of the South Africa ETF oscillator lower than -2.5 signify oversold conditions. It must be noted that the South Africa ETF oscillator must be analyzed ibn conjunction with the rest of South Africa ETF quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the South Africa ETF RSI.
South Africa ETF overbought conditions
South Africa ETF is overbought when it is subject to a persistent upward pressure due to extreme fund inflows. When the South Africa ETF is overbought it is often due for a correction. Values of the South Africa ETF oscillator higher than +2.5 signify overbought conditions. It must be noted that the MacroVar oscillator must be compared to the rest of the South Africa ETF quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the RSI.

South Africa ETF RSI indicator

The RSI indicator measures the speed and change of price movements. The RSI indicator oscillates between 0 and 100. RSI is a useful indicator during normal trending market conditions when an asset price oscillates around its trend value. During big moves and strong trends however, like short squeezes or price spikes RSI and other oscillators don’t work.
During normal trend market conditions and when South Africa ETF is in a downtrend RSI values between 50-60 signify overbought conditions before the downtrend is ready to resume. During South Africa ETF uptrend, RSI values of 40 to 50 signify oversold conditions before the uptrend is ready to resume. It is strongly not recommended to enter a position when the RSI is “overbought” and falling or vice versa.

South Africa ETF returns

MacroVar calculates South Africa ETF returns for the following timeframes: Daily, Weekly, Monthly, Yearly. The formula for calculating returns is:

South Africa ETF returns = (South Africa ETF Closing Price – South Africa ETF Previous Price)/(South Africa ETF Previous Price)
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