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Downtrend Broken Resist.Archive
- 4/5/2024 -
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iShares MSCI Switzerland Index (EWL) Technical Analysis
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| Summary:
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| | It was the negative week for the iShares MSCI Switzerland Index (EWL). During the week, the EWL dropped -1.00 points, or -2.10%, and closed at 46.60 on Friday, April 5, 2024. It was the worst weekly loss since January 19, 2024. EWL was trading at average weekly trading volume.
 Long-term trend: [See EWL long-term trend chart]
A long-term downtrend had started on December 28, 2021 at 53.06 and reached 36.02 on October 13, 2022. EWL lost 17.04 points, or 32.11%, in 41 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (43.86) 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 EWL medium-term trend chart]
A medium-term uptrend had started on February 13, 2024 at 45.53 and reached 48.86 on March 13, 2024. EWL gained -3.33 points, or -7.31%, in 4 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend support line (48.89) 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. EWL 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 medium-term trend.
 Weekly Technical Indicators: [See EWL weekly technical indicators chart]
Weekly technical indicators are neutral.
During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. Use the following link to access a MACD help.
 Short-term trend: [See EWL short-term trend chart]
A short-term downtrend had started on March 13, 2024 at 48.86 and reached 46.43 on April 5, 2024. EWL lost 2.43 points, or 4.97%, in 23 days. The price is now at the 7.00% retracement level.
 Daily Technical Indicators: [See EWL 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. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. Daily 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 daily 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 daily MACD line is below its signal line since March 19, 2024. This is an indication that the short-term trend is down.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. 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.
During the last week, the price has crossed below the 50 Day Moving Average. While the medium-term trend is up and 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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