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Downtrend Broken Resist.Archive - 3/15/2024 - Sign In to see current Signals. |
iShares MSCI Germany Index (EWG) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was a sixth consecutive positive week for the iShares MSCI Germany Index (EWG). During the week, the EWG climbed 0.16 points, or 0.52%, and closed at 31.17 on Friday, March 15, 2024. Weekly volume was -22% below average. Long-term trend: [See EWG long-term trend chart] A long-term downtrend had started on June 7, 2021 at 36.49 and reached 19.35 on September 27, 2022. EWG lost 17.14 points, or 46.97%, in 68 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (26.56) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. EWG may retest the broken resistance line. It is considered to be a support 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 resistance line in a long-term trend. Medium-term trend: [See EWG medium-term trend chart] A medium-term uptrend had started on October 27, 2023 at 24.70 and reached 31.50 on March 13, 2024. EWG gained -6.80 points, or -27.53%, in 19 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (30.26) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 resistance line in a medium-term trend. Weekly Technical Indicators: [See EWG weekly technical indicators chart] Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. Weekly Relative Strength Index and MACD have bearish divergence. Use the following links to access the Relative Strength Index and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Relative Strength Index and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help. The weekly MACD line is above its signal line since November 17, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help. Short-term trend: [See EWG short-term trend chart] A short-term uptrend had started on February 13, 2024 at 28.72 and reached 31.50 on March 13, 2024. EWG gained -2.78 points, or -9.68%, in 29 days. The chart has formed a Rising Wedge chart pattern. Daily Technical Indicators: [See EWG daily technical indicators chart] Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. The daily MACD line is above its signal line since February 15, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak. During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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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