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Downtrend Broken Resistance

Downtrend Broken Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Downtrend broken resistance stock market alert is a trend trading warning signal. It is a confirmation that long term downtrend reversal is completed and a new uptrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of resistance line. This point is considered as a second chance to participate in downtrend reversal.

Downtrend Broken Resist.

Archive
- 5/31/2024 -
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iShares FTSE/Xinhua China 25 Index (FXI) Technical Analysis

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Summary:
Weekly :Lane's Stochastic is overbought
Daily :Williams' Percentage Range and Lane's Stochastic are oversoldThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the iShares FTSE/Xinhua China 25 Index (FXI). During the week, the FXI dropped -0.95 points, or -3.44%, and closed at 26.63 on Friday, May 31, 2024. Weekly volume was -12% below 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. The price is now at the 46.09% retracement 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 29.53 on May 17, 2024. FXI gained -8.67 points, or -41.56%, in 16 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 26.07 and resistance is at 28.09. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.

Weekly Technical Indicators: [See FXI weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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 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 May 17, 2024 at 29.53 and reached 26.42 on May 31, 2024. FXI lost 3.11 points, or 10.53%, in 14 days. The price is now at the 6.75% retracement level.

Daily Technical Indicators: [See FXI daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range and Lane's Stochastic. Use the following link to access Williams' Percentage Range help.

The daily MACD line is below its signal line since May 22, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.

During the last week, the price has declined below 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 38.65
Williams' Percentage Range (W%R) 95.80
Strong Oversold
Lane's Stochastic (%D-Slow) 7.92
Strong Oversold
Greed/Fear Indicator (GFI) 16.92
Oversold
Moving Average Converg./Diverg. (MACD) 0.70
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 67.92
Williams' Percentage Range (W%R) 34.40
Lane's Stochastic (%D-Slow) 85.05
Overbought
Greed/Fear Indicator (GFI) 69.78
Moving Average Converg./Diverg. (MACD) -0.03
Trading Signals
Description Value Chart
Upper Bollinger Band 28.86
Weekly Stochastic Crossing 28.55
Parabolic System 28.18
Monthly Trendline Resistance 28.09
20 Day Moving Average 27.81
Price 26.63
Daily Stochastic Crossing 26.60
Monthly Trendline Support 26.07
50 Day Moving Average 25.86
Lower Bollinger Band 25.79
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 29.53
High Date 05/17/2024
Low 26.42
Low Date 05/31/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 29.53
High Date 05/17/2024
Low 26.42
Low Date 05/31/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 28.09
Support 26.07
Low 20.86
Low Date 01/22/2024
High 29.53
High Date 05/17/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 33.38
High Date 01/27/2023
Low 20.86
Low Date 01/22/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 54.53
High Date 02/17/2021
Low 20.86
Low Date 01/22/2024
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.