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- 2/23/2024 -
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iShares MSCI Germany Index (EWG) Technical Analysis

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Summary:
Weekly :Williams' Percentage Range is strongly overboughtRelative Strength Index, Lane's Stochastic and MACD bearish divergenceBroken trend resistance line
Daily :Broken uptrend resistance line - uptrend exhaustionWilliams' Percentage Range and Lane's Stochastic are strongly overboughtThe price is above the upper Bollinger Band
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It was a third consecutive positive week for the iShares MSCI Germany Index (EWG). During the week, the EWG gained 0.71 points, or 2.41%, and closed at 30.22 on Friday, February 23, 2024. It was the best weekly gain since November 17, 2023. Weekly volume was -38% 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 Symmetric Triangle chart pattern. The downtrend resistance line (26.27) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. EWG may retest the broken resistance line. It is considered to be a support 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 resistance line in a long-term trend.

Medium-term trend: [See EWG medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 24.70 and reached 30.26 on February 23, 2024. EWG gained -5.56 points, or -22.51%, in 17 weeks. Price is near the trend high.

Weekly Technical Indicators: [See EWG weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. Weekly Relative Strength Index, Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Relative Strength Index, Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Relative Strength Index, Lane's Stochastic and MACD 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since November 17, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See EWG short-term trend chart]
A short-term uptrend had started on January 17, 2024 at 28.28 and reached 30.26 on February 23, 2024. EWG gained -1.98 points, or -7.00%, in 37 days. The chart has formed a Broadening Descending Wedge chart pattern. The uptrend resistance line (28.49) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 EWG daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range and Lane's Stochastic.

The daily MACD line is above its signal line since February 15, 2024. This is an indication that the short-term trend is up.

The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 69.57
Williams' Percentage Range (W%R) 3.20
Strong Overbought
Lane's Stochastic (%D-Slow) 95.47
Strong Overbought
Greed/Fear Indicator (GFI) 87.26
Overbought
Moving Average Converg./Diverg. (MACD) 0.12
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 74.61
Bearish
Williams' Percentage Range (W%R) 0.90
Strong Overbought
Lane's Stochastic (%D-Slow) 68.03
Bearish
Greed/Fear Indicator (GFI) 75.47
Moving Average Converg./Diverg. (MACD) 0.42 Bearish
Trading Signals
Description Value Chart
Price 30.22
Daily Stochastic Crossing 30.22
Upper Bollinger Band 30.12
Weekly Stochastic Crossing 29.64
Parabolic System 29.51
20 Day Moving Average 29.41
50 Day Moving Average 29.31
Weekly Trendline Resistance 29.30
Lower Bollinger Band 28.79
Weekly Trendline Support 28.49
Yearly Trendline Resistance 26.59
Yearly Trendline Support 26.27
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 28.72
Low Date 02/13/2024
High 30.26
High Date 02/23/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Descending Wedge
Status Broken Resistance
Resistance 29.30
Support 28.49
Low 28.28
Low Date 01/17/2024
High 30.26
High Date 02/23/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 24.70
Low Date 10/27/2023
High 30.26
High Date 02/23/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 19.35
Low Date 09/27/2022
High 30.26
High Date 02/23/2024
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 26.59
Support 26.27
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.