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iShares MSCI Brazil Index
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|It was the negative week for the iShares MSCI Brazil Index (EWZ). During the week, the EWZ dropped -0.94 points, or -2.28%, and closed at 40.25 on Friday, May 10, 2019. Weekly volume was -16% below average. |
Long-term trend: [See EWZ long-term trend chart]
A long-term uptrend had started on September 13, 2018 at 30.65 and reached 45.72 on January 31, 2019. EWZ gained -15.07 points, or -49.17%, in 20 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (42.21) 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 long-term trend.
Medium-term trend: [See EWZ medium-term trend chart]
A medium-term downtrend had started on January 31, 2019 at 45.72 and reached 39.10 on May 7, 2019. EWZ lost 6.62 points, or 14.48%, in 13 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 38.98 and resistance is at 44.17. 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 medium-term trend.
Weekly Technical Indicators: [See EWZ weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since March 22, 2019. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
Short-term trend: [See EWZ short-term trend chart]
A short-term uptrend had started on May 7, 2019 at 39.10 and reached 41.33 on May 8, 2019. EWZ gained -2.23 points, or -5.70%, in 1 days. The price is now at the 48.43% retracement level.
Daily Technical Indicators: [See EWZ daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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 declined below the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands (4.17%) is close to one year low (7.09%). It is 68.96% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. 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.