iShares FTSE/Xinhua China 25 Index
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|It was a second consecutive positive week for the iShares FTSE/Xinhua China 25 Index (FXI). During the week, the FXI gained 0.91 points, or 1.92%, and closed at 48.19 on Friday, June 08, 2018. Weekly volume was -11% below average. |
Long-term trend: [See FXI long-term trend chart]
A long-term uptrend had started on February 11, 2016 at 28.10 and reached 53.99 on January 26, 2018. FXI gained -25.89 points, or -92.14%, in 102 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 43.55 and resistance is at 58.17. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.
Medium-term trend: [See FXI medium-term trend chart]
A medium-term downtrend had started on January 26, 2018 at 53.99 and reached 44.60 on February 9, 2018. FXI lost 9.39 points, or 17.39%, in 2 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Weekly Technical Indicators: [See FXI weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since February 16, 2018. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
Short-term trend: [See FXI short-term trend chart]
A short-term uptrend had started on February 9, 2018 at 44.60 and reached 50.36 on February 26, 2018. FXI gained -5.76 points, or -12.91%, in 17 days. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (46.21) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 short-term trend.
Daily Technical Indicators: [See FXI daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic. 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.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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.