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Advanced TA SearchArchive
- 5/3/2024 -
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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 gave back -0.01 points, or -0.03%, and closed at 30.95 on Friday, May 3, 2024. Weekly volume was -13% 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 (27.23) 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 downtrend had started on April 1, 2024 at 31.97 and reached 29.91 on April 16, 2024. EWG lost 2.06 points, or 6.44%, in 2 weeks. The price is now at the 50.49% retracement level.
 Weekly Technical Indicators: [See EWG 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 EWG short-term trend chart]
A short-term uptrend had started on April 16, 2024 at 29.91 and reached 31.13 on May 3, 2024. EWG gained -1.22 points, or -4.08%, in 17 days. The price is now at the 14.75% retracement level.
Daily Technical Indicators: [See EWG daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since May 1, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.
Price is close to the 50 Day Moving Average. 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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