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Indices ETFs Technical Analysis - EWAArchive
- 11/8/2024 -
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iShares MSCI Australia Index (EWA) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week for the iShares MSCI Australia Index (EWA). During the week, the EWA gained 0.49 points, or 1.93%, and closed at 25.94 on Friday, November 8, 2024. It was the best weekly gain since September 27, 2024. Weekly volume was -39% 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 (23.18) 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. The chart has formed a Broadening Descending Wedge chart pattern. The price is near the trend resistance line (25.95). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a medium-term trend.
 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 uptrend had started on October 31, 2024 at 25.10 and reached 26.48 on November 7, 2024. EWA gained -1.38 points, or -5.50%, in 7 days. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Daily Technical Indicators: [See EWA daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily 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 link to access Lane's Stochastic help.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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.
The price is close to 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.
Price is close to the 50 Day Moving Average. 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.
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