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Downtrend ExhaustionArchive
- 1/24/2025 -
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iShares MSCI Brazil Index (EWZ) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a third positive week after 6 consecutive negative weeks for the iShares MSCI Brazil Index (EWZ). During the week, the EWZ gained 0.79 points, or 3.35%, and closed at 24.34 on Friday, January 24, 2025. Weekly volume was 10% above average.
 Long-term trend: [See EWZ long-term trend chart]
A long-term downtrend had started on December 19, 2023 at 35.74 and reached 22.26 on December 18, 2024. EWZ lost 13.48 points, or 37.72%, in 52 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 21.08 and resistance is at 28.02. A Broadening Descending 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend.
Medium-term trend: [See EWZ medium-term trend chart]
A medium-term downtrend had started on August 19, 2024 at 31.14 and reached 22.26 on December 18, 2024. EWZ lost 8.88 points, or 28.52%, in 17 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 22.91 and resistance is at 26.41. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See EWZ 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 October 25, 2024. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
 Short-term trend: [See EWZ short-term trend chart]
A short-term uptrend had started on December 18, 2024 at 22.26 and reached 24.52 on January 24, 2025. EWZ gained -2.26 points, or -10.15%, in 37 days. The price is now at the 7.96% retracement level.
 Daily Technical Indicators: [See EWZ 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. Use the following link to access Williams' Percentage Range help.
The daily MACD line is above its signal line since January 3, 2025. This is an indication that the short-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term uptrend is strong.
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