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Archive
- 4/19/2024 -
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iShares FTSE/Xinhua China 25 Index (FXI) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week for the iShares FTSE/Xinhua China 25 Index (FXI). During the week, the FXI climbed 0.17 points, or 0.71%, and closed at 24.01 on Friday, April 19, 2024. Weekly volume was 14% above average.
 Long-term trend: [See FXI long-term trend chart]
A long-term downtrend had started on January 27, 2023 at 33.38 and reached 20.86 on January 22, 2024. FXI lost 12.52 points, or 37.51%, in 51 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Medium-term trend: [See FXI medium-term trend chart]
A medium-term uptrend had started on January 22, 2024 at 20.86 and reached 24.89 on March 13, 2024. FXI gained -4.03 points, or -19.32%, in 7 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (24.41) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. FXI may retest the broken support line. It is considered to be a resistance line now. 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 FXI weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish 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 link to access Lane's Stochastic help.
The weekly MACD line is above its signal line since February 23, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. 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 April 11, 2024 at 24.82 and reached 23.62 on April 16, 2024. FXI lost 1.20 points, or 4.83%, in 5 days. The price is now at the 32.5% retracement level.
 Daily Technical Indicators: [See FXI daily technical indicators chart]
Daily Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Lane's Stochastic.
The daily MACD line is below its signal line since April 11, 2024. This is an indication that the short-term trend is down.
A Parabolic SAR (stop and reversal) indicator (24.14) comes close to the price (24.01). 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.
The price is close to the moving average in the center of the Bollinger Bands. 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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