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iShares Russell 2000 Index (IWM) |
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| Summary:
| | Weekly : | | Daily : 
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| | It was the negative week for the iShares Russell 2000 Index (IWM). During the week, the IWM gave back -0.02 points, or -0.01%, and closed at 176.09 on Friday, May 26, 2023. Weekly volume was 20% above average.
 Long-term trend: [See IWM long-term trend chart]
A long-term uptrend had started on March 9, 2009 at 34.26 and reached 244.46 on November 8, 2021. IWM gained -210.20 points, or -613.54%, in 661 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 156.34 and resistance is at 226.38. A Broadening Ascending 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 Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.
 Medium-term trend: [See IWM medium-term trend chart]
A medium-term uptrend had started on October 13, 2022 at 162.50 and reached 199.26 on February 2, 2023. IWM gained -36.76 points, or -22.62%, in 16 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (187.96) 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 medium-term trend.
 Weekly Technical Indicators: [See IWM weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since March 10, 2023. The distance between MACD and the signal line is low and getting smaller. Use the following link to access a MACD help.
 Short-term trend: [See IWM short-term trend chart]
A short-term downtrend had started on February 2, 2023 at 199.26 and reached 167.46 on March 24, 2023. IWM lost 31.80 points, or 15.96%, in 50 days. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (169.53) is broken. A broken support is considered to be a long-term bullish 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 resistance line in a short-term trend.
Daily Technical Indicators: [See IWM daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since May 8, 2023. The distance between MACD and the signal line is low and getting smaller.
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.
The distance between the Bollinger Bands (4.54%) is close to one year low (4.25%). It is 56.75% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. 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.
Price is close to the 50 Day Moving Average. 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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