iShares MSCI Germany Index (EWG)
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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.