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Archive
- 11/15/2024 -
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iShares MSCI Germany Index (EWG) Technical Analysis
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| Summary:
| | | Weekly : | | Daily : 
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| | It was the negative week for the iShares MSCI Germany Index (EWG). During the week, the EWG dropped -0.52 points, or -1.62%, and closed at 31.58 on Friday, November 15, 2024. Weekly volume was -19% below average.
 Long-term trend: [See EWG long-term trend chart]
A long-term uptrend had started on September 27, 2022 at 19.35 and reached 34.12 on September 27, 2024. EWG gained -14.77 points, or -76.33%, in 104 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 30.64 and resistance is at 34.31. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a long-term trend.
 Medium-term trend: [See EWG medium-term trend chart]
A medium-term downtrend had started on September 27, 2024 at 34.12 and reached 31.03 on November 13, 2024. EWG lost 3.09 points, or 9.06%, in 6 weeks. The price is now at the 17.80% retracement level.
 Weekly Technical Indicators: [See EWG weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since November 1, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. Use the following link to access a MACD help.
Short-term trend: [See EWG short-term trend chart]
A short-term downtrend had started on October 15, 2024 at 33.40 and reached 31.03 on November 13, 2024. EWG lost 2.37 points, or 7.10%, in 29 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Daily Technical Indicators: [See EWG daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since October 2, 2024. This is an indication that the short-term trend is down.
During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish 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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