The Greedy Trader Weekly Analysis
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Archive
- 10/5/2018
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iShares MSCI Italy Index
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Summary:
Weekly :Williams' Percentage Range is oversoldBroken trend support line
Daily :Daily  MACD line has moved below its signal lineWilliams' Percentage Range and Lane's Stochastic are oversold20 Day Moving Average has crossed above the 50 Day Moving Average
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It was the negative week for the iShares MSCI Italy Index (EWI). During the week, the EWI dropped -0.58 points, or -2.10%, and closed at 27.08 on Friday, October 05, 2018. Weekly volume was -26% below average.

Long-term trend: [See EWI long-term trend chart]
A long-term downtrend had started on January 26, 2018 at 34.44 and reached 26.58 on August 15, 2018. EWI lost 7.86 points, or 22.82%, in 28 weeks. The chart has formed a Broadening Right-Angled, Descending Wedge chart pattern. The trend support level is at 25.42 and resistance is at 33.94. 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 Right-Angled, Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Descending Wedge pattern in a long-term trend.

Medium-term trend: [See EWI medium-term trend chart]
A medium-term uptrend had started on August 15, 2018 at 26.58 and reached 29.41 on September 26, 2018. EWI gained -2.83 points, or -10.65%, in 6 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend support line (27.78) 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. EWI 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 EWI weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly strongly oversold 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 below its signal line since May 11, 2018. The distance between MACD and the signal line is low, but getting bigger. Use the following link to access a MACD help.

Short-term trend: [See EWI short-term trend chart]
A short-term downtrend had started on September 26, 2018 at 29.41 and reached 26.97 on October 5, 2018. EWI lost 2.44 points, or 8.30%, in 9 days. Price is near the trend low.

Daily Technical Indicators: [See EWI daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range and Lane's Stochastic. Use the following link to access Lane's Stochastic help.

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 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. 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) 35.07
Williams' Percentage Range (W%R) 92.20
Strong Oversold
Lane's Stochastic (%D-Slow) 5.60
Strong Oversold
Greed/Fear Indicator (GFI) 16.15
Oversold
Moving Average Converg./Diverg. (MACD) 0.00
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 39.96
Williams' Percentage Range (W%R) 90.60
Strong Oversold
Lane's Stochastic (%D-Slow) 42.28
Greed/Fear Indicator (GFI) 31.73
Moving Average Converg./Diverg. (MACD) -0.86
Trading Signals
Description Value Chart
Weekly Trendline Resistance 29.86
Upper Bollinger Band 29.32
Parabolic System 28.41
20 Day Moving Average 28.20
50 Day Moving Average 28.09
Weekly Stochastic Crossing 27.91
Weekly Trendline Support 27.78
Daily Stochastic Crossing 27.13
Price 27.08
Lower Bollinger Band 26.64
Monthly Trendline Support 25.42
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 29.41
High Date 09/26/2018
Low 26.97
Low Date 10/05/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Support
Resistance 29.86
Support 27.78
Low 26.58
Low Date 08/15/2018
High 29.41
High Date 09/26/2018
Description Value
Direction Down
Chart Pattern Broadening Right-Angled, Descending Wedge
Status Valid
Resistance 33.94
Support 25.42
High 34.44
High Date 01/26/2018
Low 26.58
Low Date 08/15/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 9.81
Low Date 06/27/2016
High 34.44
High Date 01/26/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 9.21
Low Date 07/24/2012
High 34.44
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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