The Greedy Trader Weekly Analysis
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Downtrend Resistance
Downtrend 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. Stock market alert is a warning signal. Downtrend Resistance stock alert indicates that price is near long-term resistance trendline and probability of short-term trend reversal is high.

The strategy is based on selling long (or taking short) position on downtrend testing resistance. The strategy has low to medium risk and average reword.
Technical analysis of stock trend chart following long term trend analysis and trend following indicator for downtrend resistance trend trading. Stock trend chart - following long term trend and downtrend resistance.
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iShares MSCI Germany Index (EWG)

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Summary:
Weekly :Williams' Percentage Range and Lane's Stochastic are strongly overboughtMACD bearish divergenceBroken 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 SAR
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It was a first positive week for the iShares MSCI Germany Index (EWG). During the week, the EWG gained 1.15 points, or 3.62%, and closed at 32.92 on Friday, January 8, 2021. It was the best weekly gain since November 13, 2020. Weekly volume was -7% below average.

Long-term trend: [See EWG long-term trend chart]
A long-term downtrend had started on January 24, 2018 at 35.87 and reached 17.50 on March 18, 2020. EWG lost 18.37 points, or 51.21%, in 112 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The downtrend resistance line (12.91) 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. EWG 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 EWG medium-term trend chart]
A medium-term uptrend had started on October 30, 2020 at 26.06 and reached 33.01 on January 8, 2021. EWG gained -6.95 points, or -26.67%, in 10 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 32.38 and resistance is at 33.10. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See EWG weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range and Lane's Stochastic. Weekly MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with weekly 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 and Williams' Percentage Range help.

The weekly MACD line is above its signal line since November 27, 2020. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. Use the following link to access a MACD help.

Short-term trend: [See EWG short-term trend chart]
A short-term uptrend had started on December 31, 2020 at 31.65 and reached 33.01 on January 8, 2021. EWG gained -1.36 points, or -4.30%, in 8 days. The price is now at the 6.62% retracement level.

Daily Technical Indicators: [See EWG 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 62.24
Williams' Percentage Range (W%R) 0.40
Strong Overbought
Lane's Stochastic (%D-Slow) 85.25
Overbought
Greed/Fear Indicator (GFI) 82.35
Overbought
Moving Average Converg./Diverg. (MACD) 0.51
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 64.87
Williams' Percentage Range (W%R) 0.10
Strong Overbought
Lane's Stochastic (%D-Slow) 94.95
Strong Overbought
Greed/Fear Indicator (GFI) 84.49
Overbought
Moving Average Converg./Diverg. (MACD) 0.87 Bearish
Trading Signals
Description Value Chart
Monthly Trendline Resistance 33.10
Upper Bollinger Band 33.05
Price 32.92
Daily Stochastic Crossing 32.85
Weekly Stochastic Crossing 32.81
Monthly Trendline Support 32.38
Parabolic System 31.88
20 Day Moving Average 31.87
Lower Bollinger Band 30.71
50 Day Moving Average 30.50
Yearly Trendline Resistance 27.09
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 31.65
Low Date 12/31/2020
High 33.01
High Date 01/08/2021
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 31.65
Low Date 12/31/2020
High 33.01
High Date 01/08/2021
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Valid
Resistance 33.10
Support 32.38
Low 26.06
Low Date 10/30/2020
High 33.01
High Date 01/08/2021
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 17.50
Low Date 03/18/2020
High 33.01
High Date 01/08/2021
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Broken Resistance
Resistance 27.09
Support 12.91
High 35.87
High Date 01/24/2018
Low 17.50
Low Date 03/18/2020
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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