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Downtrend Broken Resist.Archive
- 5/22/2026 -
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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 a first positive week for the iShares MSCI South Korea Index (EWY). During the week, the EWY gained 3.17 points, or 1.77%, and closed at 182.03 on Friday, May 22, 2026. Weekly volume was 63% 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 194.58 on May 11, 2026. EWY gained -147.39 points, or -312.33%, in 186 weeks. The chart has formed a Rectangle chart pattern. The uptrend resistance line (54.01) 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 EWY medium-term trend chart]
A medium-term uptrend had started on April 8, 2025 at 48.49 and reached 194.58 on May 11, 2026. EWY gained -146.09 points, or -301.28%, in 56 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 124.54 and resistance is at 188.02. 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 medium-term trend.
 Weekly Technical Indicators: [See EWY weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought 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 April 10, 2026. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. 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 May 11, 2026 at 194.58 and reached 167.17 on May 19, 2026. EWY lost 27.41 points, or 14.09%, in 8 days. The chart has formed a Falling Channel chart pattern. The price is near the trend resistance line (183.43). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a short-term trend.
 Daily Technical Indicators: [See EWY daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
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