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Downtrend ExhaustionArchive
- 1/24/2025 -
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Vanguard Materials ETF (VAW) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a second positive week after 6 consecutive negative weeks for the Vanguard Materials ETF (VAW). During the week, the VAW climbed 1.70 points, or 0.86%, and closed at 198.50 on Friday, January 24, 2025. Weekly volume was -14% below average.
 Long-term trend: [See VAW long-term trend chart]
A long-term uptrend had started on September 29, 2022 at 146.72 and reached 215.82 on October 18, 2024. VAW gained -69.10 points, or -47.10%, in 107 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Medium-term trend: [See VAW medium-term trend chart]
A medium-term downtrend had started on October 18, 2024 at 215.82 and reached 185.00 on January 13, 2025. VAW lost 30.82 points, or 14.28%, in 12 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 180.79 and resistance is at 210.02. 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 medium-term trend.
 Weekly Technical Indicators: [See VAW 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 November 15, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term downtrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.
Short-term trend: [See VAW short-term trend chart]
A short-term uptrend had started on January 13, 2025 at 185.00 and reached 199.90 on January 21, 2025. VAW gained -14.90 points, or -8.05%, in 8 days. The price is now at the 9.40% retracement level.
 Daily Technical Indicators: [See VAW daily technical indicators chart]
Daily Relative Strength Index is overbought while Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index or strongly overbought daily Williams' Percentage Range and Lane's Stochastic. Use the following links to access Relative Strength Index and Williams' Percentage Range help.
The daily MACD line is above its signal line since January 7, 2025. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.
Price is close to the 50 Day Moving Average. While daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. 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.
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