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Indices ETFs Technical Analysis - EWI

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- 3/15/2024 -
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iShares MSCI Italy Index (EWI) Technical Analysis

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Summary:
Weekly :Relative Strength Index is overboughtWilliams' Percentage Range and Lane's Stochastic are strongly overboughtLane's Stochastic bearish divergenceTrend resistance at 37.91
Daily :Relative Strength Index and Lane's Stochastic are overboughtWilliams' Percentage Range is strongly overboughtRelative Strength Index and MACD bearish divergenceA Parabolic SAR indicator is above and near the price
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It was a seventh consecutive positive week for the iShares MSCI Italy Index (EWI). During the week, the EWI gained 0.56 points, or 1.53%, and closed at 37.23 on Friday, March 15, 2024. Weekly volume was -37% below average.

Long-term trend: [See EWI long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 20.99 and reached 37.36 on March 13, 2024. EWI gained -16.37 points, or -77.99%, in 73 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend resistance line (37.91). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.

Medium-term trend: [See EWI medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 29.01 and reached 37.36 on March 13, 2024. EWI gained -8.35 points, or -28.78%, in 19 weeks. Price is near the trend high.

Weekly Technical Indicators: [See EWI weekly technical indicators chart]
Weekly Relative Strength Index is overbought while Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index or strongly overbought weekly Williams' Percentage Range and Lane's Stochastic. Weekly Lane's Stochastic has bearish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic 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, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since November 17, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.

Short-term trend: [See EWI short-term trend chart]
A short-term uptrend had started on January 17, 2024 at 32.88 and reached 37.36 on March 13, 2024. EWI gained -4.48 points, or -13.63%, in 56 days. Price is near the trend high.

Daily Technical Indicators: [See EWI daily technical indicators chart]
Daily Relative Strength Index and Lane's Stochastic are overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index and Lane's Stochastic or strongly overbought daily Williams' Percentage Range. Daily Relative Strength Index and MACD have bearish divergence. Use the following links to access the Relative Strength Index and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index and MACD bearish divergence.

The daily MACD line is above its signal line since January 31, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

A Parabolic SAR (stop and reversal) indicator (36.86) comes close to the price (37.23). It indicates that the trend is getting weaker. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 80.46
Overbought Bearish
Williams' Percentage Range (W%R) 5.30
Strong Overbought
Lane's Stochastic (%D-Slow) 88.00
Overbought
Greed/Fear Indicator (GFI) 87.71
Overbought
Moving Average Converg./Diverg. (MACD) 0.71 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 86.01
Overbought
Williams' Percentage Range (W%R) 1.90
Strong Overbought
Lane's Stochastic (%D-Slow) 92.04
Strong Overbought Bearish
Greed/Fear Indicator (GFI) 83.93
Overbought
Moving Average Converg./Diverg. (MACD) 0.89
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 37.91
Upper Bollinger Band 37.64
Daily Stochastic Crossing 37.26
Price 37.23
Weekly Stochastic Crossing 37.19
Parabolic System 36.86
20 Day Moving Average 36.06
50 Day Moving Average 34.60
Lower Bollinger Band 34.45
Quarterly Trendline Support 29.83
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 36.40
Low Date 03/11/2024
High 37.36
High Date 03/13/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 32.88
Low Date 01/17/2024
High 37.36
High Date 03/13/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 29.01
Low Date 10/27/2023
High 37.36
High Date 03/13/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Test Resistance
Resistance 37.91
Support 29.83
Low 20.99
Low Date 10/13/2022
High 37.36
High Date 03/13/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 34.53
High Date 06/08/2021
Low 20.99
Low Date 10/13/2022
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.