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Archive
- 11/15/2024 -
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iShares MSCI Australia Index (EWA) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the iShares MSCI Australia Index (EWA). During the week, the EWA dropped -0.37 points, or -1.43%, and closed at 25.57 on Friday, November 15, 2024. Weekly volume was -30% below average.
 Long-term trend: [See EWA long-term trend chart]
A long-term uptrend had started on March 23, 2020 at 12.73 and reached 27.43 on June 8, 2021. EWA gained -14.70 points, or -115.48%, in 63 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (23.22) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 EWA medium-term trend chart]
A medium-term downtrend had started on September 30, 2024 at 27.23 and reached 25.10 on October 31, 2024. EWA lost 2.13 points, or 7.82%, in 4 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Weekly Technical Indicators: [See EWA weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since October 25, 2024. 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 EWA short-term trend chart]
A short-term downtrend had started on November 7, 2024 at 26.48 and reached 25.36 on November 13, 2024. EWA lost 1.12 points, or 4.23%, in 6 days. The price is now at the 18.75% retracement level.
Daily Technical Indicators: [See EWA 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 fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. 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.
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