The Greedy Trader Weekly Analysis
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- 3/17/2023 -
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iShares MSCI Canada Index (EWC)

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Summary:
Weekly :Broken trend support lineWeekly  MACD line has moved below its signal linePrice is near the Fibonacci 23.6% retracement level
Daily :Lane's Stochastic and MACD bullish divergence
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It was the negative week for the iShares MSCI Canada Index (EWC). During the week, the EWC dropped -0.51 points, or -1.55%, and closed at 32.36 on Friday, March 17, 2023. Weekly volume was -15% 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. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Medium-term trend: [See EWC medium-term trend chart]
A medium-term uptrend had started on October 13, 2022 at 29.55 and reached 35.98 on February 2, 2023. EWC gained -6.43 points, or -21.76%, in 16 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (35.31) is broken. A broken support is considered to be a long-term bearish 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 support in a medium-term trend.

Weekly Technical Indicators: [See EWC 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 EWC short-term trend chart]
A short-term downtrend had started on February 2, 2023 at 35.98 and reached 31.88 on March 15, 2023. EWC lost 4.10 points, or 11.40%, in 41 days. The price is now at the 11.71% retracement level.

Daily Technical Indicators: [See EWC daily technical indicators chart]
Daily technical indicators are neutral. Daily Lane's Stochastic and MACD have bullish 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 bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. 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 Lane's Stochastic help.

The daily MACD line is below its signal line since February 3, 2023. This is an indication that the short-term trend is down.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 30.41
Williams' Percentage Range (W%R) 79.40
Lane's Stochastic (%D-Slow) 20.94
Bullish
Greed/Fear Indicator (GFI) 23.99
Moving Average Converg./Diverg. (MACD) -0.42 Bullish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 42.33
Williams' Percentage Range (W%R) 77.10
Lane's Stochastic (%D-Slow) 50.58
Greed/Fear Indicator (GFI) 41.34
Moving Average Converg./Diverg. (MACD) -0.07
Trading Signals
Description Value Chart
Monthly Trendline Resistance 36.24
Monthly Trendline Support 35.31
Upper Bollinger Band 35.28
50 Day Moving Average 34.54
20 Day Moving Average 33.78
Weekly Stochastic Crossing 33.57
Parabolic System 33.27
Daily Stochastic Crossing 32.39
Price 32.36
Lower Bollinger Band 32.05
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 34.88
High Date 03/03/2023
Low 31.88
Low Date 03/15/2023
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 35.98
High Date 02/02/2023
Low 31.88
Low Date 03/15/2023
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 36.24
Support 35.31
Low 29.55
Low Date 10/13/2022
High 35.98
High Date 02/02/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
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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