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 -1.99 points, or -5.49%, and closed at 34.28 on Friday, February 09, 2018. Weekly volume was 235% above 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 price is now at the 15.55% retracement level.
Medium-term trend: [See EWU medium-term trend chart]
A medium-term downtrend had started on January 25, 2018 at 38.05 and reached 33.43 on February 9, 2018. EWU lost 4.62 points, or 12.14%, in 2 weeks. The price is now at the 18.40% retracement level.
Weekly Technical Indicators: [See EWU weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range. 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 links to access Lane's Stochastic and Williams' Percentage Range help.
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 EWU short-term trend chart]
A short-term downtrend had started on February 2, 2018 at 36.81 and reached 33.43 on February 9, 2018. EWU lost 3.38 points, or 9.18%, in 7 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Daily Technical Indicators: [See EWU daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal.
The daily MACD line is below its signal line since January 29, 2018. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.
The distance between the Bollinger Bands (14.12%) is close to one year high (7.62%). It is 250.55% higher then one year average. It indicates the period of high volatility of the stock price, and it is considered a sell 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.
During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. 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.
Candlestick pattern: [See EWU candlestick chart pattern]
On Friday the chart has formed a Bearish On Neck Candlestick pattern. This is the weakest bearish continuation signal; it appears in a downtrend. Use the Technical Stock Screener to see the list of stocks that had a Bearish On Neck Candlestick pattern during the last week.