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Downtrend Broken Resist.Archive
- 6/6/2025 -
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iShares MSCI Australia Index (EWA) Technical Analysis
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| Summary:
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| | It was a fourth consecutive positive week for the iShares MSCI Australia Index (EWA). During the week, the EWA gained 0.56 points, or 2.17%, and closed at 26.37 on Friday, June 6, 2025. Weekly volume was -27% below average.
 Long-term trend: [See EWA long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 19.19 and reached 27.23 on September 30, 2024. EWA gained -8.04 points, or -41.90%, in 102 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 22.41 and resistance is at 28.07. 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 long-term trend.
 Medium-term trend: [See EWA medium-term trend chart]
A medium-term downtrend had started on September 30, 2024 at 27.23 and reached 20.51 on April 7, 2025. EWA lost 6.72 points, or 24.68%, in 27 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The downtrend resistance line (18.72) 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. EWA 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 medium-term trend.
 Weekly Technical Indicators: [See EWA weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range and 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is above its signal line since April 25, 2025. The distance between MACD and the signal line is near its high and getting bigger. Use the following link to access a MACD help.
 Short-term trend: [See EWA short-term trend chart]
A short-term uptrend had started on April 7, 2025 at 20.51 and reached 26.51 on June 5, 2025. EWA gained -6.00 points, or -29.25%, in 59 days. The chart has formed a Rising Channel chart pattern. The price is near the trend resistance line (26.36). 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 short-term trend.
 Daily Technical Indicators: [See EWA daily technical indicators chart]
Daily Williams' Percentage Range is overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range or strongly overbought daily Lane's Stochastic.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
The price touches the upper Bollinger Band. 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.
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