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iShares MSCI Italy Index
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|It was a third consecutive positive week for the iShares MSCI Italy Index (EWI). During the week, the EWI gained 0.54 points, or 2.17%, and closed at 25.44 on Friday, January 11, 2019. Weekly volume was -56% below average. |
Long-term trend: [See EWI long-term trend chart]
A long-term uptrend had started on July 24, 2012 at 9.21 and reached 34.44 on January 26, 2018. EWI gained -25.23 points, or -273.94%, in 287 weeks. The chart has formed a Broadening Right-Angled, Ascending Wedge chart pattern. The trend support level is at 10.20 and resistance is at 38.65. A Broadening Ascending 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, Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Ascending Wedge pattern in a long-term trend.
Medium-term trend: [See EWI medium-term trend chart]
A medium-term downtrend had started on April 24, 2018 at 34.27 and reached 23.20 on December 26, 2018. EWI lost 11.07 points, or 32.30%, in 35 weeks. The chart has formed a Falling Channel chart pattern. The price is near the trend resistance line (25.28). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a medium-term trend.
Weekly Technical Indicators: [See EWI weekly technical indicators chart]
Weekly technical indicators are neutral.
During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. Use the following link to access a MACD help.
Short-term trend: [See EWI short-term trend chart]
A short-term uptrend had started on December 26, 2018 at 23.20 and reached 25.74 on January 10, 2019. EWI gained -2.54 points, or -10.95%, in 15 days. The price is now at the 11.81% retracement level.
Daily Technical Indicators: [See EWI daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range and Lane's Stochastic. 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The daily MACD line is above its signal line since January 2, 2019. 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 advanced above the 50 Day Moving Average. While the medium-term trend is down and daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. 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.