Indices ETFs Technical AnalysisArchive
- 5/19/2023 -
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iShares MSCI Australia Index (EWA)
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|It was a first positive week for the iShares MSCI Australia Index (EWA). During the week, the EWA climbed 0.11 points, or 0.48%, and closed at 23.00 on Friday, May 19, 2023. Weekly volume was -67% below average. |
Long-term trend: [See EWA long-term trend chart]
A long-term downtrend had started on June 8, 2021 at 27.43 and reached 19.19 on October 13, 2022. EWA lost 8.24 points, or 30.04%, in 70 weeks. The price is now at the 46.24% retracement level.
Medium-term trend: [See EWA medium-term trend chart]
A medium-term downtrend had started on February 1, 2023 at 25.22 and reached 21.58 on March 15, 2023. EWA lost 3.64 points, or 14.43%, in 6 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (22.92) 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 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 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 EWA short-term trend chart]
A short-term uptrend had started on March 15, 2023 at 21.58 and reached 23.73 on April 14, 2023. EWA gained -2.15 points, or -9.96%, in 30 days. The chart has formed a Symmetric Triangle chart pattern.
Daily Technical Indicators: [See EWA daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since May 10, 2023. The distance between MACD and the signal line is low, but getting bigger.
A Parabolic SAR (stop and reversal) indicator (23.17) comes close to the price (23.00). It indicates that the trend is getting weaker. 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 distance between the Bollinger Bands (3.65%) is close to one year low (3.98%). It is 65.99% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. 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.