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Advanced TA SearchArchive - 3/15/2024 - Sign In to see current Signals. |
iShares MSCI Brazil Index (EWZ) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was the negative week for the iShares MSCI Brazil Index (EWZ). During the week, the EWZ gave back -0.24 points, or -0.74%, and closed at 32.09 on Friday, March 15, 2024. Weekly volume was -17% below average. Long-term trend: [See EWZ long-term trend chart] A long-term downtrend had started on January 2, 2020 at 48.48 and reached 20.14 on March 19, 2020. EWZ lost 28.34 points, or 58.46%, in 11 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (26.58) is broken. A broken support is considered to be a long-term bullish 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 resistance line in a long-term trend. Medium-term trend: [See EWZ medium-term trend chart] A medium-term uptrend had started on March 23, 2023 at 25.00 and reached 35.74 on December 19, 2023. EWZ gained -10.74 points, or -42.96%, in 38 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 31.19 and resistance is at 36.64. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising 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 January 26, 2024. Use the following link to access a MACD help. Short-term trend: [See EWZ short-term trend chart] A short-term downtrend had started on February 27, 2024 at 34.13 and reached 32.00 on March 11, 2024. EWZ lost 2.13 points, or 6.24%, in 13 days. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 31.23 and resistance is at 32.49. 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 short-term trend. Daily Technical Indicators: [See EWZ 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. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish 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 daily MACD line is below its signal line since March 4, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term downtrend is getting stronger.
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