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- 11/25/2022 -
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iShares MSCI Canada Index (EWC)

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Summary:
Weekly :Williams' Percentage Range is overboughtBroken trend resistance line
Daily :Lane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtLane's Stochastic and MACD bearish divergenceBearish Deliberation Candlestick
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It was a first positive week for the iShares MSCI Canada Index (EWC). During the week, the EWC gained 0.79 points, or 2.29%, and closed at 35.33 on Friday, November 25, 2022. Weekly volume was -63% below average.

Long-term trend: [See EWC long-term trend chart]
A long-term downtrend had started on April 5, 2022 at 41.12 and reached 29.55 on October 13, 2022. EWC lost 11.57 points, or 28.14%, in 27 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (28.56) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. EWC may retest the broken resistance line. It is considered to be a support line now. 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 October 13, 2022 at 29.55 and reached 35.43 on November 25, 2022. EWC gained -5.88 points, or -19.90%, in 6 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 34.56 and resistance is at 37.11. 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 EWC weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with 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 link to access Williams' Percentage Range help.

The weekly MACD line is above its signal line since November 4, 2022. This is an indication that the medium-term trend is up. 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 November 21, 2022 at 33.94 and reached 35.43 on November 25, 2022. EWC gained -1.49 points, or -4.39%, in 4 days. The price is now at the 6.71% retracement level.

Daily Technical Indicators: [See EWC daily technical indicators chart]
Daily 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 daily Lane's Stochastic or strongly overbought daily Williams' Percentage Range. Daily Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following link to access Lane's Stochastic help.

The daily MACD line is above its signal line since October 14, 2022. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

Candlestick pattern: [See EWC candlestick chart pattern]
On Friday the chart has formed a Bearish Deliberation Candlestick pattern. This pattern occurs in an uptrend;it appears after a sustained upward move and suggests that the rally is losing strength and a reversal is possible. The reliability of the Bearish Deliberation pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bearish Deliberation Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 68.33
Williams' Percentage Range (W%R) 6.70
Strong Overbought
Lane's Stochastic (%D-Slow) 82.87
Overbought Bearish
Greed/Fear Indicator (GFI) 81.51
Overbought
Moving Average Converg./Diverg. (MACD) 0.61 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 49.30
Williams' Percentage Range (W%R) 16.00
Overbought
Lane's Stochastic (%D-Slow) 70.80
Greed/Fear Indicator (GFI) 69.22
Moving Average Converg./Diverg. (MACD) -1.06
Trading Signals
Description Value Chart
Monthly Trendline Resistance 37.11
Upper Bollinger Band 35.90
Price 35.33
Daily Stochastic Crossing 35.22
Parabolic System 34.59
Monthly Trendline Support 34.56
Weekly Stochastic Crossing 34.09
20 Day Moving Average 34.03
50 Day Moving Average 32.68
Quarterly Trendline Resistance 32.50
Lower Bollinger Band 32.23
Quarterly Trendline Support 28.56
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 33.94
Low Date 11/21/2022
High 35.43
High Date 11/25/2022
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 33.94
Low Date 11/21/2022
High 35.43
High Date 11/25/2022
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 37.11
Support 34.56
Low 29.55
Low Date 10/13/2022
High 35.43
High Date 11/25/2022
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 32.50
Support 28.56
High 41.12
High Date 04/05/2022
Low 29.55
Low Date 10/13/2022
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 17.59
Low Date 03/23/2020
High 41.12
High Date 04/05/2022
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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