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Indices ETFs Technical Analysis - EWI

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- 5/31/2024 -
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iShares MSCI Italy Index (EWI) Technical Analysis

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Summary:
Weekly :Williams' Percentage Range is overboughtTrend resistance at 39.33
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 a first positive week for the iShares MSCI Italy Index (EWI). During the week, the EWI climbed 0.19 points, or 0.49%, and closed at 38.83 on Friday, May 31, 2024. Weekly volume was -59% below 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 39.37 on May 16, 2024. EWI gained -18.38 points, or -87.57%, in 83 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend resistance line (39.33). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.

Medium-term trend: [See EWI medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 29.01 and reached 39.37 on May 16, 2024. EWI gained -10.36 points, or -35.71%, in 28 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 37.40 and resistance is at 40.44. A Rising 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 Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.

Weekly Technical Indicators: [See EWI 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 November 17, 2023. 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 EWI short-term trend chart]
A short-term uptrend had started on April 16, 2024 at 35.59 and reached 39.37 on May 16, 2024. EWI gained -3.78 points, or -10.62%, in 30 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 37.92 and resistance is at 40.39. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a short-term trend.

Daily Technical Indicators: [See EWI 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 (38.99) comes close to the price (38.83). 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) 57.24
Williams' Percentage Range (W%R) 28.80
Lane's Stochastic (%D-Slow) 39.44
Greed/Fear Indicator (GFI) 55.96
Moving Average Converg./Diverg. (MACD) 0.44
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 67.38
Williams' Percentage Range (W%R) 11.40
Overbought
Lane's Stochastic (%D-Slow) 79.55
Greed/Fear Indicator (GFI) 74.96
Moving Average Converg./Diverg. (MACD) 1.38
Trading Signals
Description Value Chart
Monthly Trendline Resistance 40.44
Weekly Trendline Resistance 40.39
Upper Bollinger Band 39.63
Quarterly Trendline Resistance 39.33
Parabolic System 38.99
Price 38.83
Weekly Stochastic Crossing 38.80
Daily Stochastic Crossing 38.43
20 Day Moving Average 38.40
Weekly Trendline Support 37.92
50 Day Moving Average 37.55
Monthly Trendline Support 37.40
Lower Bollinger Band 36.97
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
High 39.37
High Date 05/16/2024
Low 38.10
Low Date 05/29/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 40.39
Support 37.92
Low 35.59
Low Date 04/16/2024
High 39.37
High Date 05/16/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 40.44
Support 37.40
Low 29.01
Low Date 10/27/2023
High 39.37
High Date 05/16/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Test Resistance
Resistance 39.33
Support 30.14
Low 20.99
Low Date 10/13/2022
High 39.37
High Date 05/16/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 17.84
Low Date 03/16/2020
High 39.37
High Date 05/16/2024
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.