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| Chart Analysis and Chart Pattern Recognition – Falling Wedge Pattern. |
A falling wedge pattern
is a triangle formation with noticeable slant to the downside. It represents the
loss of the downside momentum on each successive low and has a bullish bias.
The falling wedges pattern usually marks a reversal in a downtrend. In an uptrend, the falling wedge pattern is considered as a continuation pattern. As with other triangle formations, volume
usually diminishes as price rise and then increases during the breakout.
Falling Wedge Screening page presents a list of stocks forming Falling Wedge Pattern.
Tips:
# 1 To confirm the loss of the downside momentum at the reversal point, see bullish
divergence on technical indicators.
# 2 For the best results, chart patterns should be considered together with other technical analysis signals and technical trading techniques. |
Falling Wedge Pattern,Falling Wedge,Falling Wedge Chart Pattern,Charting technique, chart pattern, chart, pattern, technical analysis, signals, chart analysis, pattern recognition, screening, technical trading |
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iShares MSCI France Index (EWQ) |
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| Summary:
| | Weekly : | | Daily :
Move cursor over the icon to see details.
| | It was a first positive week after 3 consecutive negative weeks for the iShares MSCI France Index (EWQ). During the week, the EWQ gained 0.88 points, or 3.26%, and closed at 27.84 on Thursday, July 2, 2020. Weekly volume was -56% below average.
 Long-term trend: [See EWQ long-term trend chart]
A long-term downtrend had started on January 26, 2018 at 33.73 and reached 19.29 on March 18, 2020. EWQ lost 14.44 points, or 42.81%, in 111 weeks. The price is now at the 59.21% retracement level.
 Medium-term trend: [See EWQ medium-term trend chart]
A medium-term uptrend had started on March 18, 2020 at 19.29 and reached 29.23 on June 8, 2020. EWQ gained -9.94 points, or -51.53%, in 11 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 25.15 and resistance is at 32.02. 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 medium-term trend.
 Weekly Technical Indicators: [See EWQ weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. 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 link to access Lane's Stochastic help.
The weekly MACD line is above its signal line since May 29, 2020. 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 downtrend had started on June 8, 2020 at 29.23 and reached 26.35 on June 15, 2020. EWQ lost 2.88 points, or 9.85%, in 7 days. The price is now at the 51.74% retracement level.
Daily Technical Indicators: [See EWQ daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since June 12, 2020. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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.
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