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Archive
- 4/19/2024 -
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WisdomTree Emerging Markets Local Debt Fund (ELD) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the WisdomTree Emerging Markets Local Debt Fund (ELD). During the week, the ELD gave back -0.15 points, or -0.55%, and closed at 26.99 on Friday, April 19, 2024. Weekly volume was -29% below average.
 Long-term trend: [See ELD long-term trend chart]
A long-term downtrend had started on February 10, 2022 at 30.34 and reached 23.79 on October 31, 2022. ELD lost 6.55 points, or 21.59%, in 37 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend support line (29.71) is broken. Usually a broken support is considered to be a long-term bearish signal, although a short-term pull back is possible. 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 long-term trend.
Medium-term trend: [See ELD medium-term trend chart]
A medium-term uptrend had started on October 31, 2022 at 23.79 and reached 28.59 on July 27, 2023. ELD gained -4.80 points, or -20.18%, in 38 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (29.71) 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. ELD 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 ELD weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since March 22, 2024. The distance between MACD and the signal line is low, but getting bigger. Use the following link to access a MACD help.
 Short-term trend: [See ELD short-term trend chart]
A short-term downtrend had started on December 28, 2023 at 28.18 and reached 26.47 on April 16, 2024. ELD lost 1.71 points, or 6.07%, in 110 days. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 26.43 and resistance is at 28.26. 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 short-term trend.
 Daily Technical Indicators: [See ELD daily technical indicators chart]
Daily Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold 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 daily MACD line is below its signal line since April 10, 2024. This is an indication that the short-term trend is down.
A Parabolic SAR (stop and reversal) indicator (27.13) comes close to the price (26.99). 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.
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