iShares MSCI United Kingdom Index
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|It was the negative week for the iShares MSCI United Kingdom Index (EWU). During the week, the EWU dropped -0.52 points, or -1.51%, and closed at 33.97 on Friday, August 10, 2018. It was the worst weekly loss since June 22, 2018. Weekly volume was -34% below average. |
Long-term trend: [See EWU long-term trend chart]
A long-term uptrend had started on June 27, 2016 at 13.80 and reached 38.05 on January 25, 2018. EWU gained -24.25 points, or -175.72%, in 82 weeks. The chart has formed a Rising Pennant chart pattern. The uptrend support line (39.48) 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. EWU 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 long-term trend.
Medium-term trend: [See EWU medium-term trend chart]
A medium-term downtrend had started on May 22, 2018 at 37.42 and reached 33.90 on August 10, 2018. EWU lost 3.52 points, or 9.41%, in 11 weeks. Price is near the trend low.
Weekly Technical Indicators: [See EWU weekly technical indicators chart]
Weekly Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Lane's Stochastic or strongly oversold weekly Williams' Percentage Range. Weekly Lane's Stochastic has bullish 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 bullish 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 and Williams' Percentage Range help.
The weekly MACD line is below its signal line since June 15, 2018. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
Short-term trend: [See EWU short-term trend chart]
A short-term downtrend had started on July 31, 2018 at 35.31 and reached 33.90 on August 10, 2018. EWU lost 1.41 points, or 3.99%, in 10 days. Price is near the trend low.
Daily Technical Indicators: [See EWU 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 August 9, 2018. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term downtrend is getting stronger.
The price has closed on Friday below the lower Bollinger Band. It is considered a bearish signal. 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.
Candlestick pattern: [See EWU candlestick chart pattern]
On Friday the chart has formed a Bullish Doji Candlestick pattern. Use the Technical Stock Screener to see the list of stocks that had a Bullish Doji Candlestick pattern during the last week.