Indices ETFs Technical AnalysisArchive
- 3/17/2023 -
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iShares MSCI EAFE Index (EFA)
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|It was the negative week for the iShares MSCI EAFE Index (EFA). During the week, the EFA dropped -1.47 points, or -2.14%, and closed at 67.18 on Friday, March 17, 2023. Weekly volume was 16% above average. |
Long-term trend: [See EFA long-term trend chart]
A long-term downtrend had started on September 7, 2021 at 82.29 and reached 54.61 on October 13, 2022. EFA lost 27.68 points, or 33.64%, in 57 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The downtrend resistance line (44.38) 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 EFA medium-term trend chart]
A medium-term uptrend had started on October 13, 2022 at 54.61 and reached 72.44 on February 1, 2023. EFA gained -17.83 points, or -32.65%, in 15 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (78.76) is broken. A broken support is considered to be a long-term bearish 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 support in a medium-term trend.
Weekly Technical Indicators: [See EFA weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since October 28, 2022. 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 EFA short-term trend chart]
A short-term downtrend had started on February 1, 2023 at 72.44 and reached 66.07 on March 15, 2023. EFA lost 6.37 points, or 8.79%, in 42 days. The price is now at the 17.43% retracement level.
Daily Technical Indicators: [See EFA daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since February 2, 2023. This is an indication that the short-term trend is down.
The price touches the lower Bollinger Band. 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 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish 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.
Candlestick pattern: [See EFA candlestick chart pattern]
On Friday the chart has formed a Bearish Harami Candlestick pattern. A Bearish Harami pattern occurs in an uptrend. It shows the bulls’ upward drive has weakened and now a trend reversal is possible. The reliability of the Bearish Harami pattern is low. Use the Technical Stock Screener to see the list of stocks that had a Bearish Harami Candlestick pattern during the last week.