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Advanced TA SearchArchive
- 4/26/2024 -
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iShares MSCI Italy Index (EWI) Technical Analysis
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| Summary:
| | Weekly : | | Daily : 
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| | It was a second consecutive positive week for the iShares MSCI Italy Index (EWI). During the week, the EWI gained 0.85 points, or 2.34%, and closed at 37.24 on Friday, April 26, 2024. It was the best weekly gain since February 23, 2024. Weekly volume was -21% below average.
 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 30.00 and resistance is at 38.69. 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 chart has formed a Rising Wedge chart pattern. The uptrend support line (37.90) is broken. A broken support is considered to be a long-term bearish 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 support in a medium-term trend.
 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. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish 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 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. 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 19.51% retracement level.
 Daily Technical Indicators: [See EWI daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with 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.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. 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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