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Advanced TA SearchArchive
- 4/5/2024 -
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iShares MSCI Japan Index (EWJ) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was the negative week for the iShares MSCI Japan Index (EWJ). During the week, the EWJ dropped -1.48 points, or -2.07%, and closed at 69.87 on Friday, April 5, 2024. Weekly volume was 51% above average.
 Long-term trend: [See EWJ long-term trend chart]
A long-term downtrend had started on September 15, 2021 at 74.12 and reached 47.64 on October 13, 2022. EWJ lost 26.48 points, or 35.73%, in 56 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (61.24) 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 EWJ medium-term trend chart]
A medium-term uptrend had started on October 26, 2023 at 57.20 and reached 72.07 on March 22, 2024. EWJ gained -14.87 points, or -26.00%, in 21 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (70.55) 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. EWJ 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 EWJ weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is above its signal line since November 24, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
 Short-term trend: [See EWJ short-term trend chart]
A short-term downtrend had started on March 22, 2024 at 72.07 and reached 69.57 on April 2, 2024. EWJ lost 2.50 points, or 3.47%, in 11 days. The price is now at the 12.00% retracement level.
 Daily Technical Indicators: [See EWJ 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 March 25, 2024. This is an indication that the short-term trend is down.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. 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.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. 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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