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Advanced TA SearchArchive
- 5/3/2024 -
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iShares MSCI Australia Index (EWA) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a second positive week after 3 consecutive negative weeks for the iShares MSCI Australia Index (EWA). During the week, the EWA gained 0.44 points, or 1.85%, and closed at 24.16 on Friday, May 3, 2024. It was the best weekly gain since March 8, 2024. Weekly volume was 13% above average.
 Long-term trend: [See EWA long-term trend chart]
A long-term downtrend had started on June 8, 2021 at 27.43 and reached 19.19 on October 13, 2022. EWA lost 8.24 points, or 30.04%, in 70 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (21.09) is broken. A broken support is considered to be a long-term bullish 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 resistance line in a long-term trend.
 Medium-term trend: [See EWA medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 20.46 and reached 25.04 on March 8, 2024. EWA gained -4.58 points, or -22.39%, in 19 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (25.81) 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.
The weekly MACD line is below its signal line since April 12, 2024. The distance between MACD and the signal line is low, but getting bigger. Use the following link to access a MACD help.
 Short-term trend: [See EWA short-term trend chart]
A short-term downtrend had started on March 8, 2024 at 25.04 and reached 23.15 on April 16, 2024. EWA lost 1.89 points, or 7.55%, in 39 days. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 22.66 and resistance is at 24.85. 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a short-term trend.
Daily Technical Indicators: [See EWA daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
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.
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