The Greedy Trader Weekly Analysis
Sign In May 26, 2023
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Uptrend Broken Support
Uptrend Broken Support 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. Stock market alert is a warning signal. Uptrend Broken Support alert is a confirmation that long term uptrend reversal is completed and a new downtrend 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 support trendline. This point is considered as a second chance to sell long position (or open short positions) in uptrend reversal.
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iShares MSCI EAFE Index (EFA)

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Summary:
Weekly :Broken trend support lineWilliams' Percentage Range and Lane's Stochastic are strongly overboughtBroken trend resistance line
Daily :Broken trend resistance lineThe price has risen above the Parabolic SARThe Bollinger Bands are historically close together
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It was a first positive week for the iShares MSCI EAFE Index (EFA). During the week, the EFA climbed 0.52 points, or 0.71%, and closed at 73.66 on Friday, May 19, 2023. Weekly volume was -35% below 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 Broadening Descending Wedge chart pattern. The downtrend resistance line (40.14) 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 March 15, 2023 at 66.07 and reached 74.05 on May 8, 2023. EFA gained -7.98 points, or -12.08%, in 7 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (74.80) 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 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. 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 October 28, 2022. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See EFA short-term trend chart]
A short-term downtrend had started on May 8, 2023 at 74.05 and reached 72.72 on May 11, 2023. EFA lost 1.33 points, or 1.80%, in 3 days. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (72.87) 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 EFA daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is below its signal line since April 25, 2023. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.

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 distance between the Bollinger Bands (2.06%) is close to one year low (2.02%). It is 76.94% 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 51.48
Williams' Percentage Range (W%R) 29.10
Lane's Stochastic (%D-Slow) 54.99
Greed/Fear Indicator (GFI) 59.13
Moving Average Converg./Diverg. (MACD) 0.44
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 59.42
Williams' Percentage Range (W%R) 5.70
Strong Overbought
Lane's Stochastic (%D-Slow) 92.75
Strong Overbought
Greed/Fear Indicator (GFI) 80.96
Overbought
Moving Average Converg./Diverg. (MACD) 1.74
Trading Signals
Description Value Chart
Monthly Trendline Support 74.80
Monthly Trendline Resistance 74.34
Upper Bollinger Band 73.94
Price 73.66
Weekly Stochastic Crossing 73.58
Weekly Trendline Resistance 73.44
20 Day Moving Average 73.34
Daily Stochastic Crossing 73.28
Weekly Trendline Support 72.87
Parabolic System 72.65
Lower Bollinger Band 72.40
50 Day Moving Average 71.78
Yearly Trendline Resistance 61.75
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 72.82
Low Date 05/17/2023
High 73.84
High Date 05/19/2023
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 73.44
Support 72.87
High 74.05
High Date 05/08/2023
Low 72.72
Low Date 05/11/2023
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 74.34
Support 74.80
Low 66.07
Low Date 03/15/2023
High 74.05
High Date 05/08/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 54.61
Low Date 10/13/2022
High 74.05
High Date 05/08/2023
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Broken Resistance
Resistance 61.75
Support 40.14
High 82.29
High Date 09/07/2021
Low 54.61
Low Date 10/13/2022
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.

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