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Uptrend Broken SupportArchive - 3/15/2024 - Sign In to see current Signals. |
iShares MSCI EAFE Index (EFA) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was the negative week for the iShares MSCI EAFE Index (EFA). During the week, the EFA gave back -0.36 points, or -0.45%, and closed at 78.89 on Friday, March 15, 2024. It was the worst weekly loss since January 19, 2024. Weekly volume was 6% above average. Long-term trend: [See EFA long-term trend chart] A long-term downtrend had started on September 7, 2021 at 82.29 and reached 54.61 on October 13, 2022. EFA lost 27.68 points, or 33.64%, in 57 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (69.71) 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 long-term trend. Medium-term trend: [See EFA medium-term trend chart] A medium-term uptrend had started on October 27, 2023 at 65.68 and reached 79.86 on March 8, 2024. EFA gained -14.18 points, or -21.59%, in 19 weeks. The price is now at the 6.84% retracement level. Weekly Technical Indicators: [See EFA weekly technical indicators chart] Weekly Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range and Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Weekly Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic 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 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. The distance between MACD and the signal line is relatively 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 EFA short-term trend chart] A short-term uptrend had started on January 17, 2024 at 72.58 and reached 79.86 on March 8, 2024. EFA gained -7.28 points, or -10.03%, in 51 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 78.40 and resistance is at 80.86. 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 short-term trend. Daily Technical Indicators: [See EFA daily technical indicators chart] Daily technical indicators are neutral. 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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