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Indices ETFs Technical Analysis - EWG

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- 3/15/2024 -
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iShares MSCI Germany Index (EWG) Technical Analysis

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Summary:
Weekly :Broken uptrend resistance line - uptrend exhaustionLane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtRelative Strength Index and MACD bearish divergenceBroken trend resistance line
Daily :Williams' Percentage Range is overboughtStochastic signal line moved below overbought areaThe price has fallen below the Parabolic SAR
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It was a sixth consecutive positive week for the iShares MSCI Germany Index (EWG). During the week, the EWG climbed 0.16 points, or 0.52%, and closed at 31.17 on Friday, March 15, 2024. Weekly volume was -22% below average.

Long-term trend: [See EWG long-term trend chart]
A long-term downtrend had started on June 7, 2021 at 36.49 and reached 19.35 on September 27, 2022. EWG lost 17.14 points, or 46.97%, in 68 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (26.56) 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. EWG 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 EWG medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 24.70 and reached 31.50 on March 13, 2024. EWG gained -6.80 points, or -27.53%, in 19 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (30.26) 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 medium-term trend.

Weekly Technical Indicators: [See EWG 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. Weekly Relative Strength Index and MACD have bearish divergence. Use the following links to access the Relative Strength Index and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Relative Strength Index and MACD bearish 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since November 17, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See EWG short-term trend chart]
A short-term uptrend had started on February 13, 2024 at 28.72 and reached 31.50 on March 13, 2024. EWG gained -2.78 points, or -9.68%, in 29 days. The chart has formed a Rising Wedge chart pattern.

Daily Technical Indicators: [See EWG 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 below overbought area. Such crossover is considered a bearish signal.

The daily MACD line is above its signal line since February 15, 2024. 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.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 68.53
Williams' Percentage Range (W%R) 12.90
Overbought
Lane's Stochastic (%D-Slow) 78.60
Greed/Fear Indicator (GFI) 78.07
Moving Average Converg./Diverg. (MACD) 0.45
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 74.27
Bearish
Williams' Percentage Range (W%R) 4.00
Strong Overbought
Lane's Stochastic (%D-Slow) 86.56
Overbought
Greed/Fear Indicator (GFI) 80.34
Overbought
Moving Average Converg./Diverg. (MACD) 0.57 Bearish
Trading Signals
Description Value Chart
Upper Bollinger Band 31.75
Parabolic System 31.52
Daily Stochastic Crossing 31.35
Weekly Stochastic Crossing 31.32
Price 31.17
20 Day Moving Average 30.63
Monthly Trendline Support 30.26
50 Day Moving Average 29.74
Lower Bollinger Band 29.52
Monthly Trendline Resistance 28.94
Yearly Trendline Support 26.56
Yearly Trendline Resistance 26.37
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Low 28.72
Low Date 02/13/2024
High 31.50
High Date 03/13/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 28.28
Low Date 01/17/2024
High 31.50
High Date 03/13/2024
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 28.94
Support 30.26
Low 24.70
Low Date 10/27/2023
High 31.50
High Date 03/13/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 19.35
Low Date 09/27/2022
High 31.50
High Date 03/13/2024
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 26.37
Support 26.56
High 36.49
High Date 06/07/2021
Low 19.35
Low Date 09/27/2022
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.