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Advanced TA SearchArchive
- 4/5/2024 -
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iShares MSCI France Index (EWQ) Technical Analysis
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| Summary:
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| | It was the negative week for the iShares MSCI France Index (EWQ). During the week, the EWQ dropped -0.59 points, or -1.42%, and closed at 40.82 on Friday, April 5, 2024. It was the worst weekly loss since January 5, 2024. Weekly volume was 23% above average.
 Long-term trend: [See EWQ long-term trend chart]
A long-term uptrend had started on September 27, 2022 at 26.26 and reached 41.88 on March 20, 2024. EWQ gained -15.62 points, or -59.48%, in 77 weeks. The price is now at the 6.79% retracement level.
 Medium-term trend: [See EWQ medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 33.66 and reached 41.88 on March 20, 2024. EWQ gained -8.22 points, or -24.42%, in 20 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 40.60 and resistance is at 42.33. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See EWQ 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. 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 EWQ short-term trend chart]
A short-term uptrend had started on January 17, 2024 at 37.10 and reached 41.88 on March 20, 2024. EWQ gained -4.78 points, or -12.88%, in 63 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 39.73 and resistance is at 42.70. A Broadening Ascending 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 Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a short-term trend.
 Daily Technical Indicators: [See EWQ daily technical indicators chart]
Daily Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range.
The daily MACD line is below its signal line since March 21, 2024.
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 distance between the Bollinger Bands (2.74%) is close to one year low (3.20%). It is 58.69% 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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