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Downtrend Broken Resist.Archive
- 11/8/2024 -
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iShares MSCI Emerg Mkts Index (EEM) Technical Analysis
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| Summary:
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| | It was a first positive week after 4 consecutive negative weeks for the iShares MSCI Emerg Mkts Index (EEM). During the week, the EEM climbed 0.16 points, or 0.36%, and closed at 44.65 on Friday, November 8, 2024. Weekly volume was 10% above average.
 Long-term trend: [See EEM long-term trend chart]
A long-term downtrend had started on February 16, 2021 at 58.29 and reached 33.49 on October 24, 2022. EEM lost 24.80 points, or 42.55%, in 87 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (39.43) is broken. A broken support is considered to be a long-term bullish signal. 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 EEM medium-term trend chart]
A medium-term uptrend had started on October 23, 2023 at 36.38 and reached 47.44 on October 7, 2024. EEM gained -11.06 points, or -30.40%, in 50 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 40.45 and resistance is at 47.27. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See EEM weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since September 20, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.
 Short-term trend: [See EEM short-term trend chart]
A short-term uptrend had started on August 5, 2024 at 39.39 and reached 47.44 on October 7, 2024. EEM gained -8.05 points, or -20.44%, in 63 days. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend support (45.07) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a short-term trend.
Daily Technical Indicators: [See EEM daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish 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 link to access Lane's Stochastic help.
The daily MACD line is below its signal line since October 9, 2024. The distance between MACD and the signal line is low and getting smaller.
Price is close to the 50 Day Moving Average. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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