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- 4/19/2024 -
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iShares MSCI Emerg Mkts Index (EEM) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was the negative week for the iShares MSCI Emerg Mkts Index (EEM). During the week, the EEM dropped -0.82 points, or -2.02%, and closed at 39.71 on Friday, April 19, 2024. EEM was trading at average weekly trading volume.
 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 (37.80) 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 41.87 on April 9, 2024. EEM gained -5.49 points, or -15.09%, in 24 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Weekly Technical Indicators: [See EEM weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish 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 weekly MACD line is above its signal line since February 2, 2024. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
 Short-term trend: [See EEM short-term trend chart]
A short-term downtrend had started on April 9, 2024 at 41.87 and reached 39.58 on April 19, 2024. EEM lost 2.29 points, or 5.47%, in 10 days. The price is now at the 5.68% retracement level.
 Daily Technical Indicators: [See EEM daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range and Lane's Stochastic. Use the following link to access Williams' Percentage Range help.
The daily MACD line is below its signal line since April 11, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term downtrend is strong.
During the last week, the price has crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. 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.
 Candlestick pattern: [See EEM candlestick chart pattern]
On Friday the chart has formed a Bullish Doji Candlestick pattern. Use the Technical Stock Screener to see the list of stocks that had a Bullish Doji Candlestick pattern during the last week.
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