The Greedy Trader Weekly Analysis
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- 3/17/2023 -
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iShares MSCI EAFE Index (EFA)

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Summary:
Weekly :Broken trend support lineBroken trend resistance line
Daily :20 Day Moving Average has crossed below the 50 Day Moving AverageBearish Harami CandlestickThe price touches the lower Bollinger Band
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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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 37.12
Williams' Percentage Range (W%R) 74.00
Lane's Stochastic (%D-Slow) 26.54
Greed/Fear Indicator (GFI) 29.90
Moving Average Converg./Diverg. (MACD) -0.36
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 50.80
Williams' Percentage Range (W%R) 33.80
Lane's Stochastic (%D-Slow) 59.03
Greed/Fear Indicator (GFI) 59.37
Moving Average Converg./Diverg. (MACD) 1.28
Trading Signals
Description Value Chart
Monthly Trendline Support 78.76
Monthly Trendline Resistance 75.89
Upper Bollinger Band 71.38
50 Day Moving Average 70.14
Weekly Stochastic Crossing 69.46
20 Day Moving Average 69.38
Parabolic System 68.92
Daily Stochastic Crossing 67.34
Price 67.18
Lower Bollinger Band 66.99
Quarterly Trendline Resistance 63.86
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 71.00
High Date 03/06/2023
Low 66.07
Low Date 03/15/2023
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 72.44
High Date 02/01/2023
Low 66.07
Low Date 03/15/2023
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 75.89
Support 78.76
Low 54.61
Low Date 10/13/2022
High 72.44
High Date 02/01/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Broken Resistance
Resistance 63.86
Support 44.38
High 82.29
High Date 09/07/2021
Low 54.61
Low Date 10/13/2022
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 45.73
Low Date 03/18/2020
High 82.29
High Date 09/07/2021
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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