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Downtrend ExhaustionArchive
- 12/13/2024 -
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CurrencyShares Canadian Dollar Trust (FXC) Technical Analysis
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| Summary:
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| | It was the negative week for the CurrencyShares Canadian Dollar Trust (FXC). During the week, the FXC gave back -0.41 points, or -0.59%, and closed at 68.67 on Friday, December 13, 2024. Weekly volume was 49% above average.
 Long-term trend: [See FXC long-term trend chart]
A long-term downtrend had started on July 13, 2023 at 74.64 and reached 68.64 on December 13, 2024. FXC lost 6.00 points, or 8.04%, in 74 weeks. Price is near the trend low.
 Medium-term trend: [See FXC medium-term trend chart]
A medium-term downtrend had started on September 25, 2024 at 72.83 and reached 68.64 on December 13, 2024. FXC lost 4.19 points, or 5.75%, in 11 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 68.25 and resistance is at 69.52. 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 medium-term trend.
 Weekly Technical Indicators: [See FXC weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly strongly oversold Williams' Percentage Range and Lane's Stochastic. Weekly Lane's Stochastic has bullish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is below its signal line since October 18, 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 FXC short-term trend chart]
A short-term downtrend had started on November 21, 2024 at 70.19 and reached 68.64 on December 13, 2024. FXC lost 1.55 points, or 2.21%, in 22 days. Price is near the trend low.
Daily Technical Indicators: [See FXC daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range and Lane's Stochastic.
The daily MACD line is below its signal line since December 5, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term downtrend is getting stronger.
The price touches the lower Bollinger Band. 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.
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