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Downtrend Broken Resist.Archive
- 5/29/2026 -
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iShares MSCI Japan Index (EWJ) Technical Analysis
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| Summary:
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| | It was a second consecutive positive week for the iShares MSCI Japan Index (EWJ). During the week, the EWJ gained 1.35 points, or 1.47%, and closed at 92.96 on Friday, May 29, 2026. Weekly volume was -34% below average.
 Long-term trend: [See EWJ long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 47.64 and reached 94.28 on February 12, 2026. EWJ gained -46.64 points, or -97.90%, in 174 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (62.73) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 EWJ medium-term trend chart]
A medium-term uptrend had started on March 20, 2026 at 80.85 and reached 93.37 on May 29, 2026. EWJ gained -12.52 points, or -15.49%, in 10 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 91.02 and resistance is at 94.64. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See EWJ weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. 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 May 8, 2026. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
 Short-term trend: [See EWJ short-term trend chart]
A short-term uptrend had started on May 20, 2026 at 89.59 and reached 93.37 on May 29, 2026. EWJ gained -3.78 points, or -4.22%, in 9 days. The price is now at the 10.85% retracement level.
 Daily Technical Indicators: [See EWJ daily technical indicators chart]
Daily Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range. Daily Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. 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.
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