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Archive - 6/7/2024 - Sign In to see current Signals. |
iShares MSCI Emerg Mkts Index (EEM) Technical Analysis
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| Summary:
| | Weekly :![Lane's Stochastic is overbought](images\bearish.gif) ![Broken trend resistance line](images\bullish.gif) | | Daily :![Stochastic signal line moved above oversold area](images\bullish.gif) ![A Parabolic SAR indicator is below and near the price](images\bullish.gif) ![Price is close to the 50 Day Moving Average](images\alert_signals.gif) Move cursor over the icon to see details.
| | It was a first positive week for the iShares MSCI Emerg Mkts Index (EEM). During the week, the EEM climbed 0.25 points, or 0.60%, and closed at 42.04 on Friday, June 7, 2024. Weekly volume was 14% above average.
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 Symmetric Triangle chart pattern. The downtrend resistance line (38.19) is broken. A broken support is considered to be a long-term bullish 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 resistance line in a long-term trend.
Medium-term trend: [See EEM medium-term trend chart] A medium-term uptrend had started on October 23, 2023 at 36.38 and reached 43.87 on May 17, 2024. EEM gained -7.49 points, or -20.59%, in 29 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 39.83 and resistance is at 42.77. 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 EEM 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. 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. The weekly MACD line is above its signal line since February 2, 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 EEM short-term trend chart] A short-term uptrend had started on January 17, 2024 at 37.48 and reached 43.87 on May 17, 2024. EEM gained -6.39 points, or -17.05%, in 121 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 40.68 and resistance is at 44.87. 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 EEM daily technical indicators chart] Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. The daily MACD line is below its signal line since May 23, 2024. A Parabolic SAR (stop and reversal) indicator (42.44) comes close to the price (42.04). It indicates that the trend is getting weaker. 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. Price is close to the 50 Day Moving Average. 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.
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