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- 9/22/2023 -
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iShares MSCI Pacific ex-Japan (EPP) Technical Analysis
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|It was the negative week for the iShares MSCI Pacific ex-Japan (EPP). During the week, the EPP dropped -0.93 points, or -2.27%, and closed at 39.98 on Friday, September 22, 2023. Weekly volume was -48% below average. |
Long-term trend: [See EPP long-term trend chart]
A long-term downtrend had started on June 4, 2021 at 53.97 and reached 36.63 on October 13, 2022. EPP lost 17.34 points, or 32.13%, in 70 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 26.33 and resistance is at 45.08. A Broadening Descending 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend.
Medium-term trend: [See EPP medium-term trend chart]
A medium-term downtrend had started on February 1, 2023 at 47.60 and reached 39.43 on September 21, 2023. EPP lost 8.17 points, or 17.16%, in 33 weeks. The price is now at the 6.73% retracement level.
Weekly Technical Indicators: [See EPP weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range. During the last week, weekly 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is below its signal line since March 10, 2023. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. Use the following link to access a MACD help.
Short-term trend: [See EPP short-term trend chart]
A short-term downtrend had started on September 1, 2023 at 41.54 and reached 39.43 on September 21, 2023. EPP lost 2.11 points, or 5.08%, in 20 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Daily Technical Indicators: [See EPP daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. 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.