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- 1/8/2021 -
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iShares MSCI Italy Index (EWI)

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Summary:
Weekly :Williams' Percentage Range and Lane's Stochastic are strongly overboughtLane's Stochastic and MACD bearish divergenceBroken trend resistance lineBroken trend resistance line
Daily :Broken uptrend resistance line - uptrend exhaustionWilliams' Percentage Range and Lane's Stochastic are overboughtLane's Stochastic bearish divergenceDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARThe period of low volatility of the stock price
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It was a first positive week for the iShares MSCI Italy Index (EWI). During the week, the EWI gained 0.94 points, or 3.19%, and closed at 30.38 on Friday, January 8, 2021. It was the best weekly gain since November 27, 2020. Weekly volume was -20% below average.

Long-term trend: [See EWI long-term trend chart]
A long-term downtrend had started on January 26, 2018 at 34.44 and reached 17.84 on March 16, 2020. EWI lost 16.60 points, or 48.20%, in 111 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The downtrend resistance line (14.21) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. EWI may retest the broken resistance line. It is considered to be a support line now. 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 EWI medium-term trend chart]
A medium-term downtrend had started on February 19, 2020 at 30.43 and reached 17.84 on March 16, 2020. EWI lost 12.59 points, or 41.37%, in 3 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (23.98) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. EWI may retest the broken resistance line. It is considered to be a support line now. 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 medium-term trend.

Weekly Technical Indicators: [See EWI weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range and Lane's Stochastic. Weekly Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since November 6, 2020. 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 October 29, 2020 at 22.56 and reached 30.65 on January 6, 2021. EWI gained -8.09 points, or -35.86%, in 69 days. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (29.15) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 short-term trend.

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. Daily Lane's Stochastic has bearish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic bearish divergence.

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.

The distance between the Bollinger Bands is falling, and it was 6.45% on Friday. It is 54.77% lower than one year average. It indicates the period of low volatility of the stock price. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 64.44
Williams' Percentage Range (W%R) 10.80
Overbought
Lane's Stochastic (%D-Slow) 81.08
Overbought Bearish
Greed/Fear Indicator (GFI) 78.23
Moving Average Converg./Diverg. (MACD) 0.54
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 75.23
Williams' Percentage Range (W%R) 3.20
Strong Overbought
Lane's Stochastic (%D-Slow) 96.22
Strong Overbought Bearish
Greed/Fear Indicator (GFI) 85.95
Overbought
Moving Average Converg./Diverg. (MACD) 0.81 Bearish
Trading Signals
Description Value Chart
Upper Bollinger Band 30.49
Weekly Stochastic Crossing 30.49
Daily Stochastic Crossing 30.43
Price 30.38
Weekly Trendline Resistance 29.81
Parabolic System 29.56
20 Day Moving Average 29.52
Weekly Trendline Support 29.15
Yearly Trendline Resistance 28.69
Lower Bollinger Band 28.54
50 Day Moving Average 28.06
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 28.25
Low Date 12/21/2020
High 30.65
High Date 01/06/2021
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 29.81
Support 29.15
Low 22.56
Low Date 10/29/2020
High 30.65
High Date 01/06/2021
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 17.84
Low Date 03/16/2020
High 30.65
High Date 01/06/2021
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 23.35
Support 23.98
High 30.43
High Date 02/19/2020
Low 17.84
Low Date 03/16/2020
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Broken Resistance
Resistance 28.69
Support 14.21
High 34.44
High Date 01/26/2018
Low 17.84
Low Date 03/16/2020
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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