The Greedy Trader Weekly Analysis
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Downtrend Broken Resistance
Downtrend Broken Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Downtrend broken resistance stock market alert is a trend trading warning signal. It is a confirmation that long term downtrend reversal is completed and a new uptrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of resistance line. This point is considered as a second chance to participate in downtrend reversal.
Technical analysis of stock trend chart following long term trend analysis and trend following indicator for broken resistance trend trading. Stock trend analysis and broken resistance trend following indicators.
trend trading,trend following,stock trend chart,technical analysis of stock trend,trend following indicator,following long term trend,Broken Resistance

iShares MSCI Australia Index (EWA)

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Summary:
Weekly :Relative Strength Index is overboughtWilliams' Percentage Range and Lane's Stochastic are strongly overboughtRelative Strength Index, Lane's Stochastic and MACD bearish divergenceBroken trend resistance lineBroken trend resistance line
Daily :Lane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARThe price is above the upper Bollinger BandThe period of low volatility of the stock price
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It was a second consecutive positive week for the iShares MSCI Australia Index (EWA). During the week, the EWA gained 0.88 points, or 3.67%, and closed at 24.83 on Friday, January 8, 2021. It was the best weekly gain since November 13, 2020. Weekly volume was 93% 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 12.73 on March 23, 2020. EWA lost 11.45 points, or 47.35%, in 112 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The downtrend resistance line (9.08) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. EWA may retest the broken resistance line. It is considered to be a support 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 resistance line in a long-term trend.

Medium-term trend: [See EWA medium-term trend chart]
A medium-term downtrend had started on January 16, 2020 at 23.54 and reached 12.73 on March 23, 2020. EWA lost 10.81 points, or 45.92%, in 9 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (23.19) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. EWA may retest the broken resistance line. It is considered to be a support 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 resistance line in a medium-term trend.

Weekly Technical Indicators: [See EWA weekly technical indicators chart]
Weekly Relative Strength Index is overbought while Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index or strongly overbought weekly Williams' Percentage Range and Lane's Stochastic. Weekly Relative Strength Index, Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Relative Strength Index, Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Relative Strength Index, Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since May 22, 2020. 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 October 29, 2020 at 19.57 and reached 24.87 on January 8, 2021. EWA gained -5.30 points, or -27.08%, in 71 days. The chart has formed a Rising Channel chart pattern.

Daily Technical Indicators: [See EWA daily technical indicators chart]
Daily Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic or strongly overbought daily Williams' Percentage Range.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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.

The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. The distance between the Bollinger Bands is falling, and it was 5.32% on Friday. It is 62.44% lower than one year average. It indicates the period of low volatility of the stock price. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 61.84
Williams' Percentage Range (W%R) 0.70
Strong Overbought
Lane's Stochastic (%D-Slow) 84.86
Overbought
Greed/Fear Indicator (GFI) 82.00
Overbought
Moving Average Converg./Diverg. (MACD) 0.42
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 83.51
Overbought Bearish
Williams' Percentage Range (W%R) 0.20
Strong Overbought
Lane's Stochastic (%D-Slow) 94.90
Strong Overbought Bearish
Greed/Fear Indicator (GFI) 87.32
Overbought
Moving Average Converg./Diverg. (MACD) 0.81 Bearish
Trading Signals
Description Value Chart
Price 24.83
Daily Stochastic Crossing 24.77
Weekly Stochastic Crossing 24.69
Upper Bollinger Band 24.68
Parabolic System 24.07
20 Day Moving Average 24.07
Lower Bollinger Band 23.35
Yearly Trendline Resistance 23.22
Quarterly Trendline Support 23.19
50 Day Moving Average 22.96
Monthly Trendline Resistance 21.87
Monthly Trendline Support 19.98
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Low 19.57
Low Date 10/29/2020
High 24.87
High Date 01/08/2021
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 19.41
Low Date 09/24/2020
High 24.87
High Date 01/08/2021
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 21.87
Support 19.98
Low 12.73
Low Date 03/23/2020
High 24.87
High Date 01/08/2021
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 19.84
Support 23.19
High 23.54
High Date 01/16/2020
Low 12.73
Low Date 03/23/2020
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Broken Resistance
Resistance 23.22
Support 9.08
High 24.18
High Date 01/26/2018
Low 12.73
Low Date 03/23/2020
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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