The Greedy Trader Weekly Analysis
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Archive
- 6/16/2017
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iShares MSCI Australia Index
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Summary:
Weekly :Broken trend support lineStochastic has raised above the signal line
Daily :The price has risen above the Parabolic SARPrice has crossed above the 50 Day Moving AverageThe price moved above the moving average in the center of the Bollinger Bands
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It was a first positive week for the iShares MSCI Australia Index (EWA). During the week, the EWA gained 0.59 points, or 2.74%, and closed at 22.16 on Friday, June 16, 2017. It was the best weekly gain since January 6, 2017. Weekly volume was 23% above average.

Long-term trend: [See EWA long-term trend chart]
A long-term downtrend had started on April 28, 2011 at 28.36 and reached 16.08 on January 15, 2016. EWA lost 12.28 points, or 43.30%, in 246 weeks. The chart has formed a Broadening Right-Angled, Descending Wedge chart pattern. The trend support level is at 15.14 and resistance is at 27.72. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Right-Angled, Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Descending Wedge pattern in a long-term trend.

Medium-term trend: [See EWA medium-term trend chart]
A medium-term uptrend had started on January 15, 2016 at 16.08 and reached 22.91 on March 30, 2017. EWA gained -6.83 points, or -42.48%, in 62 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (22.74) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.

Weekly Technical Indicators: [See EWA weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.

The weekly MACD line is below its signal line since April 28, 2017. The distance between MACD and the signal line is relatively high, but getting smaller. Use the following link to access a MACD help.

Short-term trend: [See EWA short-term trend chart]
A short-term uptrend had started on June 6, 2017 at 21.40 and reached 22.46 on June 14, 2017. EWA gained -1.06 points, or -4.95%, in 8 days. The price is now at the 28.30% retracement level.

Daily Technical Indicators: [See EWA daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is above its signal line since June 8, 2017. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

During the last week, the price has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 63.39
Williams' Percentage Range (W%R) 29.50
Lane's Stochastic (%D-Slow) 72.38
Greed/Fear Indicator (GFI) 68.77
Moving Average Converg./Diverg. (MACD) -0.07
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 51.60
Williams' Percentage Range (W%R) 43.60
Lane's Stochastic (%D-Slow) 24.09
Greed/Fear Indicator (GFI) 43.63
Moving Average Converg./Diverg. (MACD) 0.35
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 23.41
Quarterly Trendline Support 22.74
Upper Bollinger Band 22.29
Daily Stochastic Crossing 22.23
Price 22.16
50 Day Moving Average 22.02
20 Day Moving Average 21.74
Weekly Stochastic Crossing 21.71
Parabolic System 21.45
Lower Bollinger Band 21.38
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 21.40
Low Date 06/06/2017
High 22.46
High Date 06/14/2017
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 21.34
Low Date 06/01/2017
High 22.46
High Date 06/14/2017
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 22.91
High Date 03/30/2017
Low 21.34
Low Date 06/01/2017
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 23.41
Support 22.74
Low 16.08
Low Date 01/15/2016
High 22.91
High Date 03/30/2017
Description Value
Direction Down
Chart Pattern Broadening Right-Angled, Descending Wedge
Status Valid
Resistance 27.72
Support 15.14
High 28.36
High Date 04/28/2011
Low 16.08
Low Date 01/15/2016
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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