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Advanced TA SearchArchive
- 4/19/2024 -
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iShares Russell 2000 Index (IWM) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the iShares Russell 2000 Index (IWM). During the week, the IWM dropped -5.55 points, or -2.79%, and closed at 193.14 on Friday, April 19, 2024. Weekly volume was 20% above average.
 Long-term trend: [See IWM long-term trend chart]
A long-term uptrend had started on October 27, 2023 at 161.67 and reached 211.88 on March 28, 2024. IWM gained -50.21 points, or -31.06%, in 21 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (218.66) 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. IWM 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 long-term trend.
 Medium-term trend: [See IWM medium-term trend chart]
A medium-term downtrend had started on March 28, 2024 at 211.88 and reached 191.34 on April 19, 2024. IWM lost 20.54 points, or 9.69%, in 3 weeks. The price is now at the 8.76% retracement level.
 Weekly Technical Indicators: [See IWM weekly technical indicators chart]
Weekly technical indicators are neutral.
During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. Use the following link to access a MACD help.
Short-term trend: [See IWM short-term trend chart]
A short-term downtrend had started on April 9, 2024 at 206.97 and reached 191.34 on April 19, 2024. IWM lost 15.63 points, or 7.55%, in 10 days. The price is now at the 11.52% retracement level.
 Daily Technical Indicators: [See IWM daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold 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 below its signal line since April 1, 2024. 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 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. 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.
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