The Greedy Trader Weekly Analysis
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Archive
- 5/10/2019
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iShares MSCI France Index
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Summary:
Weekly :Stochastic signal line moved below overbought areaBroken trend support line
Daily :Williams' Percentage Range is oversoldPrice has crossed below the 50 Day Moving AveragePrice is near the Fibonacci 23.6% retracement levelThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the iShares MSCI France Index (EWQ). During the week, the EWQ dropped -0.77 points, or -2.51%, and closed at 29.95 on Friday, May 10, 2019. It was the worst weekly loss since March 22, 2019. Weekly volume was -21% below average.

Long-term trend: [See EWQ long-term trend chart]
A long-term downtrend had started on January 26, 2018 at 33.73 and reached 25.53 on December 26, 2018. EWQ lost 8.20 points, or 24.31%, in 47 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 23.71 and resistance is at 31.02. 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 long-term trend.

Medium-term trend: [See EWQ medium-term trend chart]
A medium-term uptrend had started on December 26, 2018 at 25.53 and reached 31.34 on April 22, 2019. EWQ gained -5.81 points, or -22.76%, in 16 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (31.38) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. EWQ may retest the broken support line. It is considered to be a resistance 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 support in a medium-term trend.

Weekly Technical Indicators: [See EWQ weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish 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 above its signal line since January 25, 2019. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See EWQ short-term trend chart]
A short-term downtrend had started on April 22, 2019 at 31.34 and reached 29.50 on May 9, 2019. EWQ lost 1.84 points, or 5.87%, in 17 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See EWQ daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. Use the following link to access Williams' Percentage Range help.

The daily MACD line is below its signal line since April 24, 2019. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term downtrend is strong.

During the last week, the price has declined below 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 crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support 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) 34.46
Williams' Percentage Range (W%R) 88.60
Oversold
Lane's Stochastic (%D-Slow) 22.06
Greed/Fear Indicator (GFI) 22.64
Moving Average Converg./Diverg. (MACD) 0.14
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 61.18
Williams' Percentage Range (W%R) 28.10
Lane's Stochastic (%D-Slow) 77.02
Greed/Fear Indicator (GFI) 69.30
Moving Average Converg./Diverg. (MACD) 0.06
Trading Signals
Description Value Chart
Monthly Trendline Resistance 32.15
Monthly Trendline Support 31.38
Quarterly Trendline Resistance 31.02
Upper Bollinger Band 30.99
Weekly Stochastic Crossing 30.73
20 Day Moving Average 30.50
Parabolic System 30.31
50 Day Moving Average 30.02
Price 29.95
Daily Stochastic Crossing 29.78
Lower Bollinger Band 29.56
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 30.72
High Date 05/03/2019
Low 29.50
Low Date 05/09/2019
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 31.34
High Date 04/22/2019
Low 29.50
Low Date 05/09/2019
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 32.15
Support 31.38
Low 25.53
Low Date 12/26/2018
High 31.34
High Date 04/22/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 31.02
Support 23.71
High 33.73
High Date 01/26/2018
Low 25.53
Low Date 12/26/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 21.00
Low Date 06/27/2016
High 33.73
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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