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Archive
- 11/15/2024 -
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iShares MSCI South Korea Index (EWY) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the iShares MSCI South Korea Index (EWY). During the week, the EWY dropped -3.00 points, or -5.07%, and closed at 56.20 on Friday, November 15, 2024. Weekly volume was 52% above average.
 Long-term trend: [See EWY long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 47.19 and reached 69.52 on July 11, 2024. EWY gained -22.33 points, or -47.32%, in 91 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (61.90) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. EWY may retest the broken support line. It is considered to be a resistance 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 support in a long-term trend.
 Medium-term trend: [See EWY medium-term trend chart]
A medium-term downtrend had started on July 11, 2024 at 69.52 and reached 55.69 on November 14, 2024. EWY lost 13.83 points, or 19.89%, in 18 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend support line (62.88) is broken, while daily and weekly technical indicators are oversold. Downtrend 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 support in a medium-term trend.
 Weekly Technical Indicators: [See EWY weekly technical indicators chart]
Weekly Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Lane's Stochastic or strongly oversold 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 below its signal line since July 26, 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 EWY short-term trend chart]
A short-term downtrend had started on September 26, 2024 at 67.18 and reached 55.69 on November 14, 2024. EWY lost 11.49 points, or 17.10%, in 49 days. The chart has formed a Falling Channel chart pattern.
 Daily Technical Indicators: [See EWY daily technical indicators chart]
Daily Williams' Percentage Range is oversold while Lane's Stochastic is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Williams' Percentage Range or strongly oversold daily Lane's Stochastic.
The daily MACD line is below its signal line since October 2, 2024. This is an indication that the short-term trend is down.
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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
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| Industry |
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| Daily Trend |
| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Falling Channel |
| High |
67.18 |
| High Date |
09/26/2024 |
| Low |
55.69 |
| Low Date |
11/14/2024 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
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| Resistance |
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| Support |
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| High |
67.24 |
| High Date |
08/23/2024 |
| Low |
55.69 |
| Low Date |
11/14/2024 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Symmetric Triangle |
| Status |
Broken Support |
| Resistance |
65.20 |
| Support |
62.88 |
| High |
69.52 |
| High Date |
07/11/2024 |
| Low |
55.69 |
| Low Date |
11/14/2024 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Rising Wedge |
| Status |
Broken Support |
| Resistance |
70.10 |
| Support |
61.90 |
| Low |
47.19 |
| Low Date |
10/13/2022 |
| High |
69.52 |
| High Date |
07/11/2024 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
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| Resistance |
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| Support |
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| High |
96.29 |
| High Date |
01/08/2021 |
| Low |
47.19 |
| Low Date |
10/13/2022 |
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