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Downtrend Broken Resist.Archive
- 12/13/2024 -
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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 a first positive week for the iShares MSCI South Korea Index (EWY). During the week, the EWY gained 1.03 points, or 1.87%, and closed at 55.99 on Friday, December 13, 2024. Weekly volume was 49% 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 (62.43) is broken. A broken support is considered to be a long-term bearish 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 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 52.68 on December 3, 2024. EWY lost 16.84 points, or 24.22%, in 20 weeks. The price is now at the 19.66% retracement level.
 Weekly Technical Indicators: [See EWY 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 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 November 25, 2024 at 59.09 and reached 52.68 on December 3, 2024. EWY lost 6.41 points, or 10.85%, in 8 days. The price is now at the 51.64% retracement level.
 Daily Technical Indicators: [See EWY daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
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