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Downtrend ExhaustionArchive
- 4/5/2024 -
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CurrencyShares Canadian Dollar Trust (FXC) Technical Analysis
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| Summary:
| | Weekly : | | Daily : 
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| | It was the negative week for the CurrencyShares Canadian Dollar Trust (FXC). During the week, the FXC gave back -0.43 points, or -0.59%, and closed at 71.93 on Friday, April 5, 2024. It was the worst weekly loss since January 5, 2024. Weekly volume was -40% below average.
 Long-term trend: [See FXC long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 70.03 and reached 74.64 on July 13, 2023. FXC gained -4.61 points, or -6.58%, in 39 weeks. The price is now at the 58.79% retracement level.
 Medium-term trend: [See FXC medium-term trend chart]
A medium-term downtrend had started on December 27, 2023 at 74.28 and reached 71.64 on April 5, 2024. FXC lost 2.64 points, or 3.55%, in 14 weeks. The chart has formed a Falling Wedge chart pattern. The price is near the trend resistance line (71.92). The resistance is usually stronger when technical indicators are overbought. 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 resistance line in a medium-term trend.
 Weekly Technical Indicators: [See FXC weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since February 23, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. Use the following link to access a MACD help.
 Short-term trend: [See FXC short-term trend chart]
A short-term downtrend had started on March 7, 2024 at 72.66 and reached 71.64 on April 5, 2024. FXC lost 1.02 points, or 1.40%, in 29 days. The price is now at the 28.43% retracement level.
 Daily Technical Indicators: [See FXC 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. 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 Williams' Percentage Range help.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
The price touches the lower Bollinger Band. The distance between the Bollinger Bands (1.17%) is close to one year low (1.11%). It is 51.32% 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.
Price is close to the 50 Day Moving Average. While daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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