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Advanced TA SearchArchive - 4/19/2024 - Sign In to see current Signals. |
iShares MSCI Australia Index (EWA) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was the negative week for the iShares MSCI Australia Index (EWA). During the week, the EWA dropped -0.54 points, or -2.26%, and closed at 23.36 on Friday, April 19, 2024. Weekly volume was 50% above 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 chart has formed a Symmetric Triangle chart pattern. The trend support level is at 21.04 and resistance is at 23.60. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a long-term trend. Medium-term trend: [See EWA medium-term trend chart] A medium-term uptrend had started on January 17, 2024 at 22.70 and reached 25.04 on March 8, 2024. EWA gained -2.34 points, or -10.31%, in 7 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 23.08 and resistance is at 26.14. A Broadening Ascending 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 Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend. Weekly Technical Indicators: [See EWA weekly technical indicators chart] Weekly technical indicators are neutral. During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. 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 March 8, 2024 at 25.04 and reached 23.15 on April 16, 2024. EWA lost 1.89 points, or 7.55%, in 39 days. The price is now at the 11.11% retracement level. Daily Technical Indicators: [See EWA daily technical indicators chart] Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic. 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 daily MACD line is below its signal line since April 9, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term downtrend is strong.
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