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Uptrend Broken SupportArchive
- 4/5/2024 -
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Vanguard European Stock ETF (VGK) Technical Analysis
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| | It was the negative week for the Vanguard European Stock ETF (VGK). During the week, the VGK gave back -0.58 points, or -0.86%, and closed at 66.76 on Friday, April 5, 2024. It was the worst weekly loss since January 19, 2024. Weekly volume was -23% below average.
 Long-term trend: [See VGK long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 44.99 and reached 67.78 on March 13, 2024. VGK gained -22.79 points, or -50.66%, in 73 weeks. Price is near the trend high.
 Medium-term trend: [See VGK medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 55.06 and reached 67.78 on March 13, 2024. VGK gained -12.72 points, or -23.10%, in 19 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (67.62) 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. VGK 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 medium-term trend.
 Weekly Technical Indicators: [See VGK weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. 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 November 17, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
 Short-term trend: [See VGK short-term trend chart]
A short-term downtrend had started on April 1, 2024 at 67.66 and reached 66.27 on April 5, 2024. VGK lost 1.39 points, or 2.05%, in 4 days. The price is now at the 35.25% retracement level.
 Daily Technical Indicators: [See VGK 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.
The daily MACD line is below its signal line since March 15, 2024. This is an indication that the short-term trend is down.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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 is close to the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands (2.1%) is close to one year low (2.30%). It is 65.37% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. 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.
 Candlestick pattern: [See VGK candlestick chart pattern]
On Friday the chart has formed a Bearish Thrusting Candlestick pattern. This pattern occurs in a downtrend and it shows a rally failure in a down market. This is a weak continuation pattern. The reliability of the Bearish Thrusting pattern is low. Use the Technical Stock Screener to see the list of stocks that had a Bearish Thrusting Candlestick pattern during the last week.
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