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- 11/25/2022 -
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iShares MSCI Italy Index (EWI)

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Summary:
Weekly :Lane's Stochastic is overboughtWilliams' Percentage Range is strongly overbought
Daily :Lane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtRelative Strength Index and MACD bearish divergence
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It was a first positive week for the iShares MSCI Italy Index (EWI). During the week, the EWI gained 0.41 points, or 1.50%, and closed at 27.69 on Friday, November 25, 2022. Weekly volume was -74% below average.

Long-term trend: [See EWI long-term trend chart]
A long-term downtrend had started on June 8, 2021 at 34.53 and reached 20.99 on October 13, 2022. EWI lost 13.54 points, or 39.21%, in 70 weeks. The chart has formed a Broadening Right-Angled, Descending Wedge chart pattern. The trend support level is at 20.09 and resistance is at 34.14. A Broadening Descending 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 Right-Angled, Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Descending Wedge pattern in a long-term trend.

Medium-term trend: [See EWI medium-term trend chart]
A medium-term uptrend had started on October 13, 2022 at 20.99 and reached 27.72 on November 25, 2022. EWI gained -6.73 points, or -32.06%, in 6 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 27.23 and resistance is at 27.88. 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 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 weekly Lane's Stochastic or strongly 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 links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since October 14, 2022. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term uptrend is strong. 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 November 23, 2022 at 27.54 and reached 27.72 on November 25, 2022. EWI gained -0.18 points, or -0.65%, in 2 days. The price is now at the 16.67% retracement level.

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. Daily Relative Strength Index and MACD have bearish divergence. Use the following links to access the Relative Strength Index and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following link to access Relative Strength Index help.

The daily MACD line is above its signal line since October 13, 2022. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 78.92
Bearish
Williams' Percentage Range (W%R) 4.20
Strong Overbought
Lane's Stochastic (%D-Slow) 87.10
Overbought
Greed/Fear Indicator (GFI) 87.29
Overbought
Moving Average Converg./Diverg. (MACD) 1.03 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 65.35
Williams' Percentage Range (W%R) 2.50
Strong Overbought
Lane's Stochastic (%D-Slow) 89.84
Overbought
Greed/Fear Indicator (GFI) 82.57
Overbought
Moving Average Converg./Diverg. (MACD) -1.16
Trading Signals
Description Value Chart
Upper Bollinger Band 28.88
Monthly Trendline Resistance 27.88
Price 27.69
Daily Stochastic Crossing 27.59
Weekly Stochastic Crossing 27.29
Monthly Trendline Support 27.23
Parabolic System 27.11
20 Day Moving Average 26.06
50 Day Moving Average 23.94
Lower Bollinger Band 23.35
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 27.54
Low Date 11/23/2022
High 27.72
High Date 11/25/2022
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 27.54
Low Date 11/23/2022
High 27.72
High Date 11/25/2022
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 27.88
Support 27.23
Low 20.99
Low Date 10/13/2022
High 27.72
High Date 11/25/2022
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Broadening Right-Angled, Descending Wedge
Status Valid
Resistance 34.14
Support 20.09
High 34.53
High Date 06/08/2021
Low 20.99
Low Date 10/13/2022
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 17.84
Low Date 03/16/2020
High 34.53
High Date 06/08/2021
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.

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