iShares MSCI Australia Index
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|It was the negative week for the iShares MSCI Australia Index (EWA). During the week, the EWA dropped -1.03 points, or -4.58%, and closed at 21.46 on Friday, September 07, 2018. Weekly volume was 24% 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 21.42 on September 7, 2018. EWA lost 2.76 points, or 11.41%, in 32 weeks. Price is near the trend low.
Medium-term trend: [See EWA medium-term trend chart]
A medium-term downtrend had started on July 9, 2018 at 23.18 and reached 21.42 on September 7, 2018. EWA lost 1.76 points, or 7.59%, in 8 weeks. The chart has formed a Falling Channel chart pattern. The downtrend support line (22.20) is broken, while daily and weekly technical indicators are oversold. Downtrend is exhausted and trend reversal is possible soon. 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 medium-term trend.
Weekly Technical Indicators: [See EWA weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly strongly oversold Williams' Percentage Range. 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 link to access Williams' Percentage Range help.
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 EWA short-term trend chart]
A short-term downtrend had started on August 29, 2018 at 22.98 and reached 21.42 on September 7, 2018. EWA lost 1.56 points, or 6.79%, in 9 days. Price is near the trend low.
Daily Technical Indicators: [See EWA daily technical indicators chart]
Daily Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Lane's Stochastic or strongly oversold daily Williams' Percentage Range. Use the following link to access Lane's Stochastic help.
The daily MACD line is below its signal line since August 30, 2018. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.
The price has closed on Friday below the lower Bollinger Band. It is considered a bearish signal. 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.