The Greedy Trader Weekly Analysis
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Archive
- 6/14/2019
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iShares MSCI Italy Index
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Summary:
Weekly :
Daily :Williams' Percentage Range and Lane's Stochastic are overboughtPrice is close to the 50 Day Moving Average
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It was a second positive week after 4 consecutive negative weeks for the iShares MSCI Italy Index (EWI). During the week, the EWI climbed 0.07 points, or 0.26%, and closed at 27.25 on Friday, June 14, 2019. Weekly volume was -16% 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 10.26 and resistance is at 40.50. 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 17, 2019 at 28.60 and reached 25.80 on May 31, 2019. EWI lost 2.80 points, or 9.79%, in 6 weeks. The price is now at the 51.79% retracement level.

Weekly Technical Indicators: [See EWI weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since May 24, 2019. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. 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 May 31, 2019 at 25.80 and reached 27.60 on June 11, 2019. EWI gained -1.80 points, or -6.98%, in 11 days. The chart has formed a Rising Pennant chart pattern.

Daily Technical Indicators: [See EWI daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily 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 June 5, 2019. This is an indication that the short-term trend is up.

Price is close to the 50 Day Moving Average. While 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 53.83
Williams' Percentage Range (W%R) 15.60
Overbought
Lane's Stochastic (%D-Slow) 83.06
Overbought
Greed/Fear Indicator (GFI) 73.78
Moving Average Converg./Diverg. (MACD) -0.15
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 53.85
Williams' Percentage Range (W%R) 39.40
Lane's Stochastic (%D-Slow) 28.72
Greed/Fear Indicator (GFI) 45.14
Moving Average Converg./Diverg. (MACD) 0.11
Trading Signals
Description Value Chart
Upper Bollinger Band 27.90
50 Day Moving Average 27.50
Daily Stochastic Crossing 27.40
Price 27.25
20 Day Moving Average 26.85
Weekly Stochastic Crossing 26.59
Parabolic System 26.52
Lower Bollinger Band 26.19
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Pennant
Low 25.80
Low Date 05/31/2019
High 27.60
High Date 06/11/2019
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 28.60
High Date 04/17/2019
Low 25.80
Low Date 05/31/2019
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 23.20
Low Date 12/26/2018
High 28.60
High Date 04/17/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 34.44
High Date 01/26/2018
Low 23.20
Low Date 12/26/2018
Description Value
Direction Up
Chart Pattern Broadening Right-Angled, Ascending Wedge
Status Valid
Resistance 40.50
Support 10.26
Low 9.21
Low Date 07/24/2012
High 34.44
High Date 01/26/2018
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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