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Advanced TA SearchArchive
- 4/5/2024 -
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iShares MSCI Australia Index (EWA) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the iShares MSCI Australia Index (EWA). During the week, the EWA gave back -0.10 points, or -0.41%, and closed at 24.56 on Friday, April 5, 2024. Weekly volume was 15% above average.
 Long-term trend: [See EWA long-term trend chart]
A long-term downtrend had started on June 8, 2021 at 27.43 and reached 19.19 on October 13, 2022. EWA lost 8.24 points, or 30.04%, in 70 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (20.99) 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 EWA medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 20.46 and reached 25.04 on March 8, 2024. EWA gained -4.58 points, or -22.39%, in 19 weeks. The price is now at the 10.48% retracement level.
 Weekly Technical Indicators: [See EWA weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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 link to access Williams' Percentage Range help.
The weekly MACD line is above its signal line since November 10, 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 EWA short-term trend chart]
A short-term uptrend had started on February 13, 2024 at 22.81 and reached 25.04 on March 8, 2024. EWA gained -2.23 points, or -9.78%, in 24 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Daily Technical Indicators: [See EWA daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
The distance between the Bollinger Bands (3.26%) is close to one year low (3.37%). It is 53.39% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy 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.
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