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Advanced TA SearchArchive
- 5/3/2024 -
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iShares MSCI Italy Index (EWI) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was the negative week for the iShares MSCI Italy Index (EWI). During the week, the EWI gave back -0.28 points, or -0.75%, and closed at 36.96 on Friday, May 3, 2024. EWI was trading at average weekly trading volume.
 Long-term trend: [See EWI long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 20.99 and reached 37.96 on March 26, 2024. EWI gained -16.97 points, or -80.85%, in 75 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 30.03 and resistance is at 38.82. 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 long-term trend.
 Medium-term trend: [See EWI medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 29.01 and reached 37.96 on March 26, 2024. EWI gained -8.95 points, or -30.85%, in 21 weeks. The price is now at the 11.17% retracement level.
 Weekly Technical Indicators: [See EWI weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. 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 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. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.
Short-term trend: [See EWI short-term trend chart]
A short-term uptrend had started on April 16, 2024 at 35.59 and reached 37.64 on April 23, 2024. EWI gained -2.05 points, or -5.76%, in 7 days. The price is now at the 33.17% retracement level.
 Daily Technical Indicators: [See EWI daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Use the following link to access Lane's Stochastic help.
The daily MACD line is above its signal line since May 2, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
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 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. 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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