The Greedy Trader Weekly Analysis
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Archive
- 2/9/2018
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iShares MSCI Australia Index
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Summary:
Weekly :Stochastic signal line moved below overbought areaWeekly  MACD line has moved below its signal lineBroken trend support lineBroken trend support line
Daily :Lane's Stochastic is oversoldPrice has crossed below the 50 Day Moving AverageThe Bollinger Bands are historically far apart
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It was the negative week for the iShares MSCI Australia Index (EWA). During the week, the EWA dropped -1.40 points, or -5.95%, and closed at 22.12 on Friday, February 09, 2018. Weekly volume was 228% above average.

Long-term trend: [See EWA long-term trend chart]
A long-term uptrend had started on January 15, 2016 at 16.08 and reached 24.18 on January 26, 2018. EWA gained -8.10 points, or -50.37%, in 106 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (23.06) 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. EWA 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 long-term trend.

Medium-term trend: [See EWA medium-term trend chart]
A medium-term uptrend had started on June 21, 2017 at 21.07 and reached 24.18 on January 26, 2018. EWA gained -3.11 points, or -14.76%, in 31 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (22.89) 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. EWA 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 EWA 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.

During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. Use the following link to access a MACD help.

Short-term trend: [See EWA short-term trend chart]
A short-term downtrend had started on January 26, 2018 at 24.18 and reached 21.59 on February 9, 2018. EWA lost 2.59 points, or 10.71%, in 14 days. The price is now at the 20.46% retracement level.

Daily Technical Indicators: [See EWA daily technical indicators chart]
Daily Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Lane's Stochastic.

The daily MACD line is below its signal line since January 30, 2018. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.

The distance between the Bollinger Bands (11.21%) is close to one year high (8.66%). It is 154.22% higher then one year average. It indicates the period of high volatility of the stock price, and it is considered a sell 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.

During the last week, the price has crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 29.40
Williams' Percentage Range (W%R) 79.50
Lane's Stochastic (%D-Slow) 13.51
Oversold
Greed/Fear Indicator (GFI) 21.12
Moving Average Converg./Diverg. (MACD) -0.02
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 43.10
Williams' Percentage Range (W%R) 79.50
Lane's Stochastic (%D-Slow) 71.92
Greed/Fear Indicator (GFI) 45.83
Moving Average Converg./Diverg. (MACD) 0.29
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 24.48
Upper Bollinger Band 24.40
Yearly Trendline Resistance 24.25
Parabolic System 23.43
20 Day Moving Average 23.41
Weekly Stochastic Crossing 23.36
50 Day Moving Average 23.20
Yearly Trendline Support 23.06
Quarterly Trendline Support 22.89
Price 22.12
Daily Stochastic Crossing 21.97
Lower Bollinger Band 21.92
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 24.18
High Date 01/26/2018
Low 21.59
Low Date 02/09/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 24.18
High Date 01/26/2018
Low 21.59
Low Date 02/09/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 22.11
Low Date 10/06/2017
High 24.18
High Date 01/26/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 24.48
Support 22.89
Low 21.07
Low Date 06/21/2017
High 24.18
High Date 01/26/2018
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 24.25
Support 23.06
Low 16.08
Low Date 01/15/2016
High 24.18
High Date 01/26/2018
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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