The Greedy Trader Weekly Analysis
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Weekly Price vs. Fibonacci:Near 38.2% retracement level
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Stock market trading indicator and technical analysis stock screen presents technical stock market timing signals for technical investment analysis like screen stochastic or moving average trading system.. Screen includes following popular indicators and trading systems: Relative Strength Index (RSI), Williams' Percentage Range (W%R) and Lane's Stochastic (%D–Slow), moving average, macd convergence divergence, bullish and bearish divergence. For the best result different technical indicators should be analyzed in different time frames together with trend analysis, sector/industry ranking and stock timing alerts.

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- 7/19/2024 -
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iShares MSCI South Korea Index (EWY) Technical Analysis

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Summary:
Weekly :Broken trend resistance line
Daily :Stochastic signal line moved below overbought areaDaily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARPrice has crossed below the 50 Day Moving AverageThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the iShares MSCI South Korea Index (EWY). During the week, the EWY dropped -3.42 points, or -4.98%, and closed at 65.23 on Friday, July 19, 2024. It was the worst weekly loss since April 12, 2024. Weekly volume was -34% below average.

Long-term trend: [See EWY long-term trend chart]
A long-term downtrend had started on January 8, 2021 at 96.29 and reached 47.19 on October 13, 2022. EWY lost 49.10 points, or 50.99%, in 91 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (59.55) 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 EWY medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 54.49 and reached 69.52 on July 11, 2024. EWY gained -15.03 points, or -27.58%, in 36 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 63.87 and resistance is at 70.93. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See EWY weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since June 28, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See EWY short-term trend chart]
A short-term uptrend had started on April 17, 2024 at 60.60 and reached 69.52 on July 11, 2024. EWY gained -8.92 points, or -14.72%, in 85 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 62.27 and resistance is at 69.93. 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 EWY daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. 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.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. 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.

During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 45.37
Williams' Percentage Range (W%R) 75.80
Lane's Stochastic (%D-Slow) 24.91
Greed/Fear Indicator (GFI) 31.48
Moving Average Converg./Diverg. (MACD) 0.78
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 56.62
Williams' Percentage Range (W%R) 40.10
Lane's Stochastic (%D-Slow) 77.70
Greed/Fear Indicator (GFI) 63.61
Moving Average Converg./Diverg. (MACD) 0.72
Trading Signals
Description Value Chart
Monthly Trendline Resistance 70.93
Weekly Trendline Resistance 69.93
Upper Bollinger Band 69.55
Parabolic System 68.90
Weekly Stochastic Crossing 67.86
20 Day Moving Average 66.86
Daily Stochastic Crossing 65.95
50 Day Moving Average 65.50
Price 65.23
Lower Bollinger Band 63.89
Monthly Trendline Support 63.87
Weekly Trendline Support 62.27
Yearly Trendline Support 59.55
Yearly Trendline Resistance 56.93
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Low 61.41
Low Date 05/31/2024
High 69.52
High Date 07/11/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 69.93
Support 62.27
Low 60.60
Low Date 04/17/2024
High 69.52
High Date 07/11/2024
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Valid
Resistance 70.93
Support 63.87
Low 54.49
Low Date 10/27/2023
High 69.52
High Date 07/11/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 47.19
Low Date 10/13/2022
High 69.52
High Date 07/11/2024
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 56.93
Support 59.55
High 96.29
High Date 01/08/2021
Low 47.19
Low Date 10/13/2022
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.