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Advanced TA SearchArchive
- 4/19/2024 -
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CurrencyShares Canadian Dollar Trust (FXC) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week for the CurrencyShares Canadian Dollar Trust (FXC). During the week, the FXC climbed 0.23 points, or 0.32%, and closed at 71.24 on Friday, April 19, 2024. Weekly volume was 47% above average.
 Long-term trend: [See FXC long-term trend chart]
A long-term downtrend had started on June 1, 2021 at 81.77 and reached 70.03 on October 13, 2022. FXC lost 11.74 points, or 14.36%, in 71 weeks. The chart has formed a Descending Triangle chart pattern. The trend support level is at 70.49 and resistance is at 72.04. A Descending Triangle is a variation of triangle formation that has a flat support line and falling resistance line. The lower highs indicate the decreasing demand and give the descending triangle definitive bearish bias. A Descending Triangle usually represents a distribution stage in bearish market. A Descending Triangle is considered to be a continuation pattern, especially in a down trend, but it may also mark a reversal in an uptrend. Use the following link to access a Descending Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Descending Triangle pattern in a long-term trend.
 Medium-term trend: [See FXC medium-term trend chart]
A medium-term uptrend had started on November 1, 2023 at 70.35 and reached 74.28 on December 27, 2023. FXC gained -3.93 points, or -5.59%, in 8 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (72.48) 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 medium-term trend.
 Weekly Technical Indicators: [See FXC weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold 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 below its signal line since February 23, 2024. 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 March 7, 2024 at 72.66 and reached 70.66 on April 16, 2024. FXC lost 2.00 points, or 2.75%, in 40 days. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 70.46 and resistance is at 72.46. 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 short-term trend.
 Daily Technical Indicators: [See FXC daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since April 4, 2024. This is an indication that the short-term trend is down.
A Parabolic SAR (stop and reversal) indicator (71.44) comes close to the price (71.24). It indicates that the trend is getting weaker. 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.
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