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Archive
- 3/17/2023 -
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iShares MSCI Emerg Mkts Index (EEM) |
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| Summary:
| | Weekly : | | Daily :
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| | It was the negative week for the iShares MSCI Emerg Mkts Index (EEM). During the week, the EEM gave back -0.23 points, or -0.61%, and closed at 37.61 on Friday, March 17, 2023. EEM was trading at average weekly trading volume.
 Long-term trend: [See EEM long-term trend chart]
A long-term downtrend had started on February 16, 2021 at 58.29 and reached 33.49 on October 24, 2022. EEM lost 24.80 points, or 42.55%, in 87 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 29.02 and resistance is at 43.04. A Broadening Descending 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend.
 Medium-term trend: [See EEM medium-term trend chart]
A medium-term uptrend had started on October 24, 2022 at 33.49 and reached 42.53 on January 26, 2023. EEM gained -9.04 points, or -26.99%, in 13 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (43.11) is broken. A broken support is considered to be a long-term bearish 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 support in a medium-term trend.
 Weekly Technical Indicators: [See EEM 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 EEM short-term trend chart]
A short-term downtrend had started on March 6, 2023 at 39.68 and reached 36.90 on March 15, 2023. EEM lost 2.78 points, or 7.01%, in 9 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Daily Technical Indicators: [See EEM daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since January 30, 2023. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.
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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
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| Industry |
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| Daily Trend |
| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Low |
36.90 |
| Low Date |
03/15/2023 |
| High |
37.87 |
| High Date |
03/17/2023 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
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| Resistance |
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| Support |
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| High |
39.68 |
| High Date |
03/06/2023 |
| Low |
36.90 |
| Low Date |
03/15/2023 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Falling Channel |
| Status |
Valid |
| Resistance |
38.44 |
| Support |
36.64 |
| High |
42.53 |
| High Date |
01/26/2023 |
| Low |
36.90 |
| Low Date |
03/15/2023 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Rising Wedge |
| Status |
Broken Support |
| Resistance |
45.20 |
| Support |
43.11 |
| Low |
33.49 |
| Low Date |
10/24/2022 |
| High |
42.53 |
| High Date |
01/26/2023 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Broadening Descending Wedge |
| Status |
Valid |
| Resistance |
43.04 |
| Support |
29.02 |
| High |
58.29 |
| High Date |
02/16/2021 |
| Low |
33.49 |
| Low Date |
10/24/2022 |
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