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Archive
- 4/5/2024 -
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iShares MSCI Canada Index (EWC) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a eighth consecutive positive week for the iShares MSCI Canada Index (EWC). During the week, the EWC climbed 0.01 points, or 0.03%, and closed at 38.29 on Friday, April 5, 2024. Weekly volume was 14% above average.
 Long-term trend: [See EWC long-term trend chart]
A long-term downtrend had started on April 5, 2022 at 41.12 and reached 29.55 on October 13, 2022. EWC lost 11.57 points, or 28.14%, in 27 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (32.19) 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 EWC medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 31.41 and reached 38.59 on April 4, 2024. EWC gained -7.18 points, or -22.86%, in 22 weeks. Price is near the trend high.
 Weekly Technical Indicators: [See EWC 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. Weekly Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic and MACD 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 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. Use the following link to access a MACD help.
 Short-term trend: [See EWC short-term trend chart]
A short-term uptrend had started on February 13, 2024 at 35.05 and reached 38.59 on April 4, 2024. EWC gained -3.54 points, or -10.10%, in 51 days. The chart has formed a Rising Channel chart pattern. The price is near the trend support (38.33) line. The support is usually stronger when technical indicators are oversold. 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 support line in a short-term trend.
 Daily Technical Indicators: [See EWC daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since March 22, 2024. The distance between MACD and the signal line is low, but getting bigger.
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.
The price touches the upper Bollinger Band. The distance between the Bollinger Bands (2.4%) is close to one year low (2.97%). It is 62.10% 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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