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Uptrend Broken SupportArchive
- 4/19/2024 -
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Vanguard European Stock ETF (VGK) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Vanguard European Stock ETF (VGK). During the week, the VGK gave back -0.39 points, or -0.60%, and closed at 64.68 on Friday, April 19, 2024. Weekly volume was 15% above average.
 Long-term trend: [See VGK long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 44.99 and reached 67.78 on March 13, 2024. VGK gained -22.79 points, or -50.66%, in 73 weeks. The price is now at the 13.60% retracement level.
 Medium-term trend: [See VGK medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 55.06 and reached 67.78 on March 13, 2024. VGK gained -12.72 points, or -23.10%, in 19 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (69.03) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. VGK may retest the broken support line. It is considered to be a resistance line now. 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 VGK weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish 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 link to access Lane's Stochastic 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 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 VGK short-term trend chart]
A short-term downtrend had started on March 13, 2024 at 67.78 and reached 64.22 on April 16, 2024. VGK lost 3.56 points, or 5.25%, in 34 days. The price is now at the 12.92% retracement level.
 Daily Technical Indicators: [See VGK daily technical indicators chart]
Daily Williams' Percentage Range is oversold while Lane's Stochastic is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Williams' Percentage Range or strongly oversold daily Lane's Stochastic. Use the following link to access Williams' Percentage Range help.
The daily MACD line is below its signal line since March 15, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term downtrend is strong.
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