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Indices ETFs Technical Analysis - EWCArchive
- 11/8/2024 -
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iShares MSCI Canada Index (EWC) Technical Analysis
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| Summary:
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| | It was a first positive week for the iShares MSCI Canada Index (EWC). During the week, the EWC gained 1.02 points, or 2.51%, and closed at 41.69 on Friday, November 8, 2024. It was the best weekly gain since September 13, 2024. Weekly volume was -13% below average.
 Long-term trend: [See EWC long-term trend chart]
A long-term uptrend had started on March 23, 2020 at 17.59 and reached 42.25 on November 7, 2024. EWC gained -24.66 points, or -140.19%, in 241 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (36.48) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 uptrend had started on August 5, 2024 at 35.75 and reached 42.25 on November 7, 2024. EWC gained -6.50 points, or -18.18%, in 13 weeks. The price is now at the 8.62% retracement level.
 Weekly Technical Indicators: [See EWC weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. 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 weekly MACD line is above its signal line since August 16, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 October 31, 2024 at 40.50 and reached 42.25 on November 7, 2024. EWC gained -1.75 points, or -4.32%, in 7 days. The price is now at the 32.00% retracement level.
 Daily Technical Indicators: [See EWC daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal.
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.
During the last week, the price has moved above 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.
During the last week, the price has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. 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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