The Greedy Trader Weekly Analysis
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Indices ETFs Technical Analysis - EWG

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- 5/31/2024 -
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iShares MSCI Germany Index (EWG) Technical Analysis

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Summary:
Weekly :Williams' Percentage Range is overboughtBroken trend resistance line
Daily :Daily  MACD line has moved below its signal lineA Parabolic SAR indicator is below and near the price
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It was the negative week for the iShares MSCI Germany Index (EWG). During the week, the EWG gave back -0.22 points, or -0.68%, and closed at 32.06 on Friday, May 31, 2024. Weekly volume was -38% 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 (27.60) is broken. A broken support is considered to be a long-term bullish 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 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 32.75 on May 15, 2024. EWG gained -8.05 points, or -32.59%, in 28 weeks. The price is now at the 8.57% retracement level.

Weekly Technical Indicators: [See EWG 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 May 3, 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 EWG short-term trend chart]
A short-term downtrend had started on May 15, 2024 at 32.75 and reached 31.73 on May 30, 2024. EWG lost 1.02 points, or 3.11%, in 15 days. The price is now at the 32.35% retracement level.

Daily Technical Indicators: [See EWG daily technical indicators chart]
Daily technical indicators are neutral.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

A Parabolic SAR (stop and reversal) indicator (32.33) comes close to the price (32.06). It indicates that the trend is getting weaker. 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) 47.81
Williams' Percentage Range (W%R) 39.00
Lane's Stochastic (%D-Slow) 28.49
Greed/Fear Indicator (GFI) 45.78
Moving Average Converg./Diverg. (MACD) 0.31
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 67.18
Williams' Percentage Range (W%R) 17.00
Overbought
Lane's Stochastic (%D-Slow) 73.31
Greed/Fear Indicator (GFI) 70.43
Moving Average Converg./Diverg. (MACD) 0.85
Trading Signals
Description Value Chart
Upper Bollinger Band 32.70
Parabolic System 32.33
Weekly Stochastic Crossing 32.24
Price 32.06
20 Day Moving Average 32.03
Daily Stochastic Crossing 31.89
50 Day Moving Average 31.38
Lower Bollinger Band 31.04
Yearly Trendline Support 27.60
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 32.75
High Date 05/15/2024
Low 31.73
Low Date 05/30/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 29.91
Low Date 04/16/2024
High 32.75
High Date 05/15/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 24.70
Low Date 10/27/2023
High 32.75
High Date 05/15/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 19.35
Low Date 09/27/2022
High 32.75
High Date 05/15/2024
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 25.60
Support 27.60
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.