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Archive
- 11/22/2024 -
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iShares MSCI United Kingdom Index (EWU) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a first positive week after 4 consecutive negative weeks for the iShares MSCI United Kingdom Index (EWU). During the week, the EWU gained 0.68 points, or 1.97%, and closed at 35.17 on Friday, November 22, 2024. It was the best weekly gain since August 23, 2024. Weekly volume was -20% below average.
 Long-term trend: [See EWU long-term trend chart]
A long-term uptrend had started on March 23, 2020 at 19.51 and reached 37.88 on September 27, 2024. EWU gained -18.37 points, or -94.16%, in 235 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (32.48) 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 long-term trend.
 Medium-term trend: [See EWU medium-term trend chart]
A medium-term downtrend had started on September 27, 2024 at 37.88 and reached 34.31 on November 13, 2024. EWU lost 3.57 points, or 9.42%, in 6 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 33.77 and resistance is at 35.56. 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See EWU weekly technical indicators chart]
Weekly Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold 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 link to access Lane's Stochastic help.
The weekly MACD line is below its signal line since October 4, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is near its 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 EWU short-term trend chart]
A short-term uptrend had started on November 13, 2024 at 34.31 and reached 35.18 on November 22, 2024. EWU gained -0.87 points, or -2.54%, in 9 days. Price is near the trend high.
 Daily Technical Indicators: [See EWU daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish 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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