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ETFs Technical Analysis - ICFArchive
- 5/10/2024 -
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iShares Cohen & Steers Realty Majors (ICF) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a third positive week after 3 consecutive negative weeks for the iShares Cohen & Steers Realty Majors (ICF). During the week, the ICF gained 1.25 points, or 2.30%, and closed at 55.61 on Friday, May 10, 2024. It was the best weekly gain since March 28, 2024. Weekly volume was -23% below average.
 Long-term trend: [See ICF long-term trend chart]
A long-term uptrend had started on October 30, 2023 at 47.23 and reached 59.85 on December 14, 2023. ICF gained -12.62 points, or -26.72%, in 6 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (60.55) 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 long-term trend.
 Medium-term trend: [See ICF medium-term trend chart]
A medium-term downtrend had started on December 14, 2023 at 59.85 and reached 52.39 on April 18, 2024. ICF lost 7.46 points, or 12.46%, in 18 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 51.66 and resistance is at 58.37. A Broadening Descending 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See ICF weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since March 28, 2024. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
 Short-term trend: [See ICF short-term trend chart]
A short-term downtrend had started on March 11, 2024 at 59.00 and reached 52.39 on April 18, 2024. ICF lost 6.61 points, or 11.20%, in 38 days. The price is now at the 48.71% retracement level.
 Daily Technical Indicators: [See ICF daily technical indicators chart]
Daily Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic or strongly overbought daily 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The daily MACD line is above its signal line since April 25, 2024. The distance between MACD and the signal line is relatively high and getting bigger.
Price is close to the 50 Day Moving Average. While daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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