- 5/26/2023 -
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iShares FTSE/Xinhua China 25 Index (FXI)
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|It was the negative week for the iShares FTSE/Xinhua China 25 Index (FXI). During the week, the FXI dropped -1.07 points, or -3.84%, and closed at 26.83 on Friday, May 26, 2023. It was the worst weekly loss since March 10, 2023. Weekly volume was -11% below average. |
Long-term trend: [See FXI long-term trend chart]
A long-term uptrend had started on October 31, 2022 at 20.87 and reached 33.38 on January 27, 2023. FXI gained -12.51 points, or -59.94%, in 12 weeks. The chart has formed a Symmetric Triangle chart pattern. The price is near the trend support (30.38) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a long-term trend.
Medium-term trend: [See FXI medium-term trend chart]
A medium-term downtrend had started on January 27, 2023 at 33.38 and reached 26.34 on May 25, 2023. FXI lost 7.04 points, or 21.09%, in 16 weeks. The price is now at the 6.96% retracement level.
Weekly Technical Indicators: [See FXI weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly strongly oversold Williams' Percentage Range. 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 Williams' Percentage Range help.
The weekly MACD line is below its signal line since March 10, 2023. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. Use the following link to access a MACD help.
Short-term trend: [See FXI short-term trend chart]
A short-term downtrend had started on March 30, 2023 at 30.01 and reached 26.34 on May 25, 2023. FXI lost 3.67 points, or 12.23%, in 56 days. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 24.60 and resistance is at 28.79. 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 FXI daily technical indicators chart]
Daily Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Lane's Stochastic or strongly oversold daily Williams' Percentage Range. Use the following link to access Lane's Stochastic help.
The daily MACD line is below its signal line since May 22, 2023. This is an indication that the short-term trend is down.
Candlestick pattern: [See FXI candlestick chart pattern]
On Friday the chart has formed a Bearish Downside Tasuki Gap Candlestick pattern. This is a rare continuation formation that appears in a strongly downward moving market. The reliability of the Bearish Downside Tasuki Gap pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bearish Downside Tasuki Gap Candlestick pattern during the last week.