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Advanced TA SearchArchive
- 4/19/2024 -
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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 the negative week for the iShares MSCI United Kingdom Index (EWU). During the week, the EWU gave back -0.23 points, or -0.68%, and closed at 33.49 on Friday, April 19, 2024. EWU was trading at average weekly trading volume.
 Long-term trend: [See EWU long-term trend chart]
A long-term downtrend had started on February 10, 2022 at 35.09 and reached 25.36 on September 28, 2022. EWU lost 9.73 points, or 27.73%, in 32 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (32.23) is broken. A broken support is considered to be a long-term bullish signal. 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 uptrend had started on October 27, 2023 at 30.14 and reached 34.53 on April 4, 2024. EWU gained -4.39 points, or -14.57%, in 22 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Weekly Technical Indicators: [See EWU weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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 above its signal line since November 24, 2023. This is an indication that the medium-term trend is up. 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 January 17, 2024 at 31.51 and reached 34.53 on April 4, 2024. EWU gained -3.02 points, or -9.58%, in 78 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 31.75 and resistance is at 34.93. 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 EWU daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic. Use the following link to access Williams' Percentage Range help.
The daily MACD line is below its signal line since April 9, 2024. The distance between MACD and the signal line is relatively high and getting bigger.
Price is close to the 50 Day Moving Average. While daily technical indicators are oversold, the 50 Day Moving Average is considered a support 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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