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Downtrend Broken Resist.Archive
- 5/10/2024 -
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iShares MSCI EMU Index (EZU) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was a first positive week for the iShares MSCI EMU Index (EZU). During the week, the EZU gained 1.72 points, or 3.43%, and closed at 51.85 on Friday, May 10, 2024. EZU was trading at average weekly trading volume.
 Long-term trend: [See EZU long-term trend chart]
A long-term downtrend had started on November 9, 2021 at 51.62 and reached 31.14 on October 13, 2022. EZU lost 20.48 points, or 39.67%, in 48 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (44.78) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. EZU may retest the broken resistance line. It is considered to be a support 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 resistance line in a long-term trend.
 Medium-term trend: [See EZU medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 40.15 and reached 51.95 on May 10, 2024. EZU gained -11.80 points, or -29.39%, in 28 weeks. Price is near the trend high.
 Weekly Technical Indicators: [See EZU weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. 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.
During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. Use the following link to access a MACD help.
Short-term trend: [See EZU short-term trend chart]
A short-term uptrend had started on May 1, 2024 at 48.92 and reached 51.95 on May 10, 2024. EZU gained -3.03 points, or -6.19%, in 9 days. Price is near the trend high.
 Daily Technical Indicators: [See EZU daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range and Lane's Stochastic.
The daily MACD line is above its signal line since May 2, 2024. This is an indication that the short-term trend is up.
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