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Downtrend Broken Resist.Archive
- 1/3/2025 -
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iShares MSCI Canada Index (EWC) Technical Analysis
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| Summary:
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| | It was a second positive week after 3 consecutive negative weeks for the iShares MSCI Canada Index (EWC). During the week, the EWC climbed 0.37 points, or 0.92%, and closed at 40.59 on Friday, January 3, 2025. It was the best weekly gain since November 22, 2024. EWC was trading at average weekly trading volume.
 Long-term trend: [See EWC long-term trend chart]
A long-term uptrend had started on March 23, 2020 at 17.59 and reached 43.33 on December 5, 2024. EWC gained -25.74 points, or -146.33%, in 245 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (37.07) 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 EWC medium-term trend chart]
A medium-term downtrend had started on December 5, 2024 at 43.33 and reached 39.39 on December 20, 2024. EWC lost 3.94 points, or 9.09%, in 2 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (39.95) 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 EWC weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since December 13, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term downtrend is strong. Use the following link to access a MACD help.
 Short-term trend: [See EWC short-term trend chart]
A short-term uptrend had started on December 30, 2024 at 39.74 and reached 40.67 on January 3, 2025. EWC gained -0.93 points, or -2.34%, in 4 days. The price is now at the 8.60% retracement level.
Daily Technical Indicators: [See EWC daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since December 6, 2024. The distance between MACD and the signal line is low and getting smaller.
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 distance between the Bollinger Bands is 116.63% higher then one year average. It indicates the period of high volatility of the stock price. 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.
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