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Uptrend ExhaustionArchive
- 5/24/2024 -
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iShares FTSE/Xinhua China 25 Index (FXI) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the iShares FTSE/Xinhua China 25 Index (FXI). During the week, the FXI dropped -1.75 points, or -5.97%, and closed at 27.58 on Friday, May 24, 2024. FXI was trading at average weekly trading volume.
 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. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (18.98) 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 FXI medium-term trend chart]
A medium-term uptrend had started on January 22, 2024 at 20.86 and reached 29.53 on May 17, 2024. FXI gained -8.67 points, or -41.56%, in 16 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 25.84 and resistance is at 27.86. 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 Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought 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. 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 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 downtrend had started on May 17, 2024 at 29.53 and reached 27.42 on May 24, 2024. FXI lost 2.11 points, or 7.15%, in 7 days. The price is now at the 7.58% retracement level.
 Daily Technical Indicators: [See FXI daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
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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