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Downtrend Broken Resist.Archive
- 4/5/2024 -
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iShares MSCI South Korea Index (EWY) Technical Analysis
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| Summary:
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| | It was the negative week for the iShares MSCI South Korea Index (EWY). During the week, the EWY dropped -1.01 points, or -1.50%, and closed at 66.10 on Friday, April 5, 2024. It was the worst weekly loss since January 19, 2024. EWY was trading at average weekly trading volume.
 Long-term trend: [See EWY long-term trend chart]
A long-term downtrend had started on January 8, 2021 at 96.29 and reached 47.19 on October 13, 2022. EWY lost 49.10 points, or 50.99%, in 91 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (57.54) 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 EWY medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 54.49 and reached 68.20 on March 21, 2024. EWY gained -13.71 points, or -25.16%, in 20 weeks. The price is now at the 15.32% retracement level.
 Weekly Technical Indicators: [See EWY weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Weekly Lane's Stochastic has bearish 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 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 link to access Lane's Stochastic help.
The weekly MACD line is above its signal line since February 2, 2024. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
 Short-term trend: [See EWY short-term trend chart]
A short-term downtrend had started on March 21, 2024 at 68.20 and reached 65.56 on April 5, 2024. EWY lost 2.64 points, or 3.87%, in 15 days. The price is now at the 20.45% retracement level.
 Daily Technical Indicators: [See EWY daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since March 27, 2024. 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.
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.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands (3.93%) is close to one year low (4.71%). It is 57.75% 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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