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- 5/26/2023 -
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iShares MSCI Germany Index (EWG)

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Summary:
Weekly :Lane's Stochastic is overboughtStochastic has declined below the signal lineWeekly  MACD line has moved below its signal lineTrend resistance at 27.51Broken trend support line
Daily :The price has fallen below the Parabolic SARWilliams' Percentage Range is oversoldLane's Stochastic bullish divergencePrice has crossed below the 50 Day Moving AverageThe price has declined below the moving average in the center of the Bollinger BandsThe period of low volatility of the stock price
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It was the negative week for the iShares MSCI Germany Index (EWG). During the week, the EWG dropped -0.74 points, or -2.52%, and closed at 28.58 on Friday, May 26, 2023. It was the worst weekly loss since March 17, 2023. Weekly volume was -55% below average.

Long-term trend: [See EWG long-term trend chart]
A long-term downtrend had started on June 7, 2021 at 36.49 and reached 19.35 on September 27, 2022. EWG lost 17.14 points, or 46.97%, in 68 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The price is near the trend resistance line (27.51). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.

Medium-term trend: [See EWG medium-term trend chart]
A medium-term uptrend had started on March 15, 2023 at 26.04 and reached 29.56 on May 1, 2023. EWG gained -3.52 points, or -13.52%, in 6 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (29.13) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. EWG may retest the broken support line. It is considered to be a resistance line now. 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 EWG 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. 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, 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 EWG short-term trend chart]
A short-term downtrend had started on May 19, 2023 at 29.41 and reached 28.17 on May 25, 2023. EWG lost 1.24 points, or 4.22%, in 6 days. The price is now at the 33.06% retracement level.

Daily Technical Indicators: [See EWG daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. Daily Lane's Stochastic has bullish 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 daily Lane's Stochastic bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following link to access Williams' Percentage Range help.

The daily MACD line is below its signal line since April 25, 2023. This is an indication that the short-term trend is down.

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 is falling, and it was 4.48% on Friday. It is 61.20% lower than one year average. It indicates the period of low volatility of the stock price. 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. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 34.66
Williams' Percentage Range (W%R) 84.90
Oversold
Lane's Stochastic (%D-Slow) 26.82
Bullish
Greed/Fear Indicator (GFI) 25.53
Moving Average Converg./Diverg. (MACD) 0.05
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 52.55
Williams' Percentage Range (W%R) 29.90
Lane's Stochastic (%D-Slow) 85.18
Overbought
Greed/Fear Indicator (GFI) 69.84
Moving Average Converg./Diverg. (MACD) 1.04
Trading Signals
Description Value Chart
Upper Bollinger Band 29.53
Monthly Trendline Resistance 29.36
Weekly Stochastic Crossing 29.32
Parabolic System 29.13
Monthly Trendline Support 29.13
20 Day Moving Average 29.02
50 Day Moving Average 28.66
Price 28.58
Daily Stochastic Crossing 28.36
Lower Bollinger Band 28.23
Yearly Trendline Resistance 27.51
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 29.41
High Date 05/19/2023
Low 28.17
Low Date 05/25/2023
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 29.56
High Date 05/01/2023
Low 28.17
Low Date 05/25/2023
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Support
Resistance 29.36
Support 29.13
Low 26.04
Low Date 03/15/2023
High 29.56
High Date 05/01/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 19.35
Low Date 09/27/2022
High 29.56
High Date 05/01/2023
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Test Resistance
Resistance 27.51
Support 10.77
High 36.49
High Date 06/07/2021
Low 19.35
Low Date 09/27/2022
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.

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