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Downtrend ExhaustionArchive
- 4/26/2024 -
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iShares Cohen & Steers Realty Majors (ICF) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week after 3 consecutive negative weeks for the iShares Cohen & Steers Realty Majors (ICF). During the week, the ICF gained 0.60 points, or 1.13%, and closed at 53.58 on Friday, April 26, 2024. Weekly volume was -43% below average.
 Long-term trend: [See ICF long-term trend chart]
A long-term uptrend had started on October 30, 2023 at 47.23 and reached 59.85 on December 14, 2023. ICF gained -12.62 points, or -26.72%, in 6 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (59.55) 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 long-term trend.
 Medium-term trend: [See ICF medium-term trend chart]
A medium-term downtrend had started on December 14, 2023 at 59.85 and reached 52.39 on April 18, 2024. ICF lost 7.46 points, or 12.46%, in 18 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 52.12 and resistance is at 58.52. 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 ICF weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly 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 28, 2024. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
 Short-term trend: [See ICF short-term trend chart]
A short-term downtrend had started on March 11, 2024 at 59.00 and reached 52.39 on April 18, 2024. ICF lost 6.61 points, or 11.20%, in 38 days. The price is now at the 18.00% retracement level.
 Daily Technical Indicators: [See ICF daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. Use the following link to access Lane's Stochastic help.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. 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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