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Uptrend ExhaustionArchive
- 4/26/2024 -
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iShares FTSE/Xinhua China 25 Index (FXI) Technical Analysis
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| Summary:
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| | It was a second consecutive positive week for the iShares FTSE/Xinhua China 25 Index (FXI). During the week, the FXI gained 1.86 points, or 7.75%, and closed at 25.87 on Friday, April 26, 2024. Weekly volume was 16% 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 38.2% 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 26.03 on April 26, 2024. FXI gained -5.17 points, or -24.78%, in 13 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 24.70 and resistance is at 26.74. 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 Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought 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 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 near its high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.
 Short-term trend: [See FXI short-term trend chart]
A short-term uptrend had started on April 16, 2024 at 23.62 and reached 26.03 on April 26, 2024. FXI gained -2.41 points, or -10.20%, in 10 days. The price is now at the 6.64% retracement level.
 Daily Technical Indicators: [See FXI daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range and Lane's Stochastic. 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.
The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. 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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