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Downtrend Broken Resist.Archive
- 1/3/2025 -
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iShares MSCI Italy Index (EWI) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the iShares MSCI Italy Index (EWI). During the week, the EWI gave back -0.36 points, or -1.00%, and closed at 35.67 on Friday, January 3, 2025. Weekly volume was 25% above average.
 Long-term trend: [See EWI long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 20.99 and reached 39.63 on September 27, 2024. EWI gained -18.64 points, or -88.80%, in 102 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (37.80) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. EWI may retest the broken support line. It is considered to be a resistance 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 support in a long-term trend.
 Medium-term trend: [See EWI medium-term trend chart]
A medium-term downtrend had started on September 27, 2024 at 39.63 and reached 35.20 on December 20, 2024. EWI lost 4.43 points, or 11.18%, in 12 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 34.53 and resistance is at 36.85. A Falling Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a medium-term trend.
 Weekly Technical Indicators: [See EWI weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold 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 below its signal line since October 18, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term downtrend is strong. Use the following link to access a MACD help.
 Short-term trend: [See EWI short-term trend chart]
A short-term downtrend had started on December 6, 2024 at 37.90 and reached 35.20 on December 20, 2024. EWI lost 2.70 points, or 7.12%, in 14 days. The price is now at the 17.41% retracement level.
Daily Technical Indicators: [See EWI daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range.
The daily MACD line is below its signal line since December 17, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.
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