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Indices ETFs Technical Analysis - EWIArchive
- 1/17/2025 -
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iShares MSCI Italy Index (EWI) Technical Analysis
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| Summary:
| | Weekly : | | Daily : 
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| | It was a second consecutive positive week for the iShares MSCI Italy Index (EWI). During the week, the EWI gained 1.27 points, or 3.48%, and closed at 37.77 on Friday, January 17, 2025. Weekly volume was -26% 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 39.63 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 price is near the trend support (38.07) line. The support is usually stronger when technical indicators are oversold. 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 support line 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 downtrend resistance line (34.55) 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. EWI 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 medium-term trend.
 Weekly Technical Indicators: [See EWI weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since October 18, 2024. This is an indication that the medium-term trend is down. 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 December 20, 2024 at 35.20 and reached 37.97 on January 17, 2025. EWI gained -2.77 points, or -7.87%, in 28 days. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (36.13) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 short-term trend.
 Daily Technical Indicators: [See EWI daily technical indicators chart]
Daily 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 daily Lane's Stochastic or strongly overbought daily 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The daily MACD line is above its signal line since January 3, 2025. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.
During the last week, the price has advanced above the 50 Day Moving Average. While the medium-term trend is down and daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. 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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