The Greedy Trader Weekly Analysis
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Downtrend Resistance
Downtrend Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Stock market alert is a warning signal. Downtrend Resistance stock alert indicates that price is near long-term resistance trendline and probability of short-term trend reversal is high.

The strategy is based on selling long (or taking short) position on downtrend testing resistance. The strategy has low to medium risk and average reword.

Downtrend Resistance

Archive
- 3/15/2024 -
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iShares FTSE/Xinhua China 25 Index (FXI) Technical Analysis

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Summary:
Weekly :Price is near the Fibonacci 23.6% retracement level
Daily :Daily  MACD line has moved above its signal lineThe price has risen above the Parabolic SAR
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It was a first positive week for the iShares FTSE/Xinhua China 25 Index (FXI). During the week, the FXI gained 0.52 points, or 2.22%, and closed at 23.99 on Friday, March 15, 2024. Weekly volume was 35% above average.

Long-term trend: [See FXI long-term trend chart]
A long-term downtrend had started on January 27, 2023 at 33.38 and reached 20.86 on January 22, 2024. FXI lost 12.52 points, or 37.51%, in 51 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Medium-term trend: [See FXI medium-term trend chart]
A medium-term uptrend had started on January 22, 2024 at 20.86 and reached 24.89 on March 13, 2024. FXI gained -4.03 points, or -19.32%, in 7 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 23.16 and resistance is at 25.09. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.

Weekly Technical Indicators: [See FXI weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since February 23, 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 FXI short-term trend chart]
A short-term uptrend had started on March 5, 2024 at 23.02 and reached 24.89 on March 13, 2024. FXI gained -1.87 points, or -8.12%, in 8 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 23.70 and resistance is at 25.34. 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 short-term trend.

Daily Technical Indicators: [See FXI daily technical indicators chart]
Daily technical indicators are neutral.

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 50.75
Williams' Percentage Range (W%R) 38.30
Lane's Stochastic (%D-Slow) 76.91
Greed/Fear Indicator (GFI) 63.10
Moving Average Converg./Diverg. (MACD) 0.30
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 51.34
Williams' Percentage Range (W%R) 50.60
Lane's Stochastic (%D-Slow) 73.74
Greed/Fear Indicator (GFI) 57.79
Moving Average Converg./Diverg. (MACD) -1.12
Trading Signals
Description Value Chart
Weekly Trendline Resistance 25.34
Monthly Trendline Resistance 25.09
Upper Bollinger Band 24.61
Daily Stochastic Crossing 24.45
Weekly Stochastic Crossing 24.10
Price 23.99
20 Day Moving Average 23.74
Weekly Trendline Support 23.70
Parabolic System 23.37
Monthly Trendline Support 23.16
50 Day Moving Average 22.89
Lower Bollinger Band 22.69
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 24.89
High Date 03/13/2024
Low 23.98
Low Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 25.34
Support 23.70
Low 23.02
Low Date 03/05/2024
High 24.89
High Date 03/13/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 25.09
Support 23.16
Low 20.86
Low Date 01/22/2024
High 24.89
High Date 03/13/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 33.38
High Date 01/27/2023
Low 20.86
Low Date 01/22/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 54.53
High Date 02/17/2021
Low 20.86
Low Date 01/22/2024
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.