The Greedy Trader Weekly Analysis
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Downtrend exhaustion - Stock Market Timing Signals and trading strategies.
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iShares MSCI Australia Index
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Summary:
Weekly :Broken trend support linePrice is near the Fibonacci 38.2% retracement level
Daily :Williams' Percentage Range is overboughtLane's Stochastic is strongly overboughtPrice is close to the 50 Day Moving Average
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It was a third positive week after 3 consecutive negative weeks for the iShares MSCI Australia Index (EWA). During the week, the EWA gained 0.58 points, or 2.95%, and closed at 20.21 on Friday, January 11, 2019. Weekly volume was 34% above average.

Long-term trend: [See EWA long-term trend chart]
A long-term downtrend had started on January 26, 2018 at 24.18 and reached 18.35 on December 26, 2018. EWA lost 5.83 points, or 24.11%, in 47 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend support line (22.87) is broken. Usually a broken support is considered to be a long-term bearish signal, although a short-term pull back is possible. 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 EWA medium-term trend chart]
A medium-term downtrend had started on July 9, 2018 at 23.18 and reached 18.35 on December 26, 2018. EWA lost 4.83 points, or 20.84%, in 24 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Weekly Technical Indicators: [See EWA weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since August 31, 2018. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.

Short-term trend: [See EWA short-term trend chart]
A short-term uptrend had started on December 26, 2018 at 18.35 and reached 20.24 on January 11, 2019. EWA gained -1.89 points, or -10.30%, in 16 days. Price is near the trend high.

Daily Technical Indicators: [See EWA daily technical indicators chart]
Daily Williams' Percentage Range is overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range or strongly overbought daily 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 above its signal line since January 3, 2019. This is an indication that the short-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term uptrend is strong.

Price is close to the 50 Day Moving Average. While daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance 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) 73.76
Williams' Percentage Range (W%R) 18.50
Overbought
Lane's Stochastic (%D-Slow) 96.71
Strong Overbought
Greed/Fear Indicator (GFI) 83.98
Overbought
Moving Average Converg./Diverg. (MACD) -0.25
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 42.38
Williams' Percentage Range (W%R) 62.50
Lane's Stochastic (%D-Slow) 26.66
Greed/Fear Indicator (GFI) 37.48
Moving Average Converg./Diverg. (MACD) -0.59
Trading Signals
Description Value Chart
Quarterly Trendline Support 22.87
Quarterly Trendline Resistance 21.78
Upper Bollinger Band 20.89
50 Day Moving Average 20.25
Price 20.21
Daily Stochastic Crossing 20.20
20 Day Moving Average 19.45
Parabolic System 19.23
Weekly Stochastic Crossing 19.13
Lower Bollinger Band 18.57
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 18.80
Low Date 01/02/2019
High 20.24
High Date 01/11/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 18.35
Low Date 12/26/2018
High 20.24
High Date 01/11/2019
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 23.18
High Date 07/09/2018
Low 18.35
Low Date 12/26/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Support
Resistance 21.78
Support 22.87
High 24.18
High Date 01/26/2018
Low 18.35
Low Date 12/26/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 16.08
Low Date 01/15/2016
High 24.18
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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