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Advanced TA SearchArchive
- 4/26/2024 -
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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 3 consecutive negative weeks for the iShares MSCI United Kingdom Index (EWU). During the week, the EWU gained 1.34 points, or 4.00%, and closed at 34.83 on Friday, April 26, 2024. Weekly volume was -8% below average.
 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 (32.32) 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. EWU 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 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 34.86 on April 26, 2024. EWU gained -4.72 points, or -15.66%, in 26 weeks. Price is near the trend high.
 Weekly Technical Indicators: [See EWU 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 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 April 16, 2024 at 33.12 and reached 34.86 on April 26, 2024. EWU gained -1.74 points, or -5.25%, in 10 days. Price is near the trend high.
Daily Technical Indicators: [See EWU 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. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. 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.
The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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