Indices ETFs Technical AnalysisArchive
- 5/19/2023 -
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iShares MSCI Emerg Mkts Index (EEM)
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|It was a first positive week for the iShares MSCI Emerg Mkts Index (EEM). During the week, the EEM gained 0.43 points, or 1.12%, and closed at 38.98 on Friday, May 19, 2023. It was the best weekly gain since March 31, 2023. Weekly volume was -28% below 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 Broadening Descending Wedge chart pattern. The price is near the trend resistance line (39.99). The resistance is usually stronger when technical indicators are overbought. 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 resistance line in a long-term trend.
Medium-term trend: [See EEM medium-term trend chart]
A medium-term downtrend had started on January 26, 2023 at 42.53 and reached 36.90 on March 15, 2023. EEM lost 5.63 points, or 13.24%, in 6 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (38.92) 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 medium-term trend.
Weekly Technical Indicators: [See EEM weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since May 5, 2023. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. 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 March 15, 2023 at 36.90 and reached 40.01 on April 18, 2023. EEM gained -3.11 points, or -8.43%, in 34 days. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 38.73 and resistance is at 39.25. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a short-term trend.
Daily Technical Indicators: [See EEM daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since May 17, 2023. The distance between MACD and the signal line is low and getting smaller.
A Parabolic SAR (stop and reversal) indicator (39.24) comes close to the price (38.98). It indicates that the trend is getting weaker. 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 (3.18%) is close to one year low (3.79%). It is 62.52% 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.
During the last week, the price has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. 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.