The Greedy Trader Weekly Analysis
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Monthly Price vs. Fibonacci:Near 38.2% retracement level
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Stock market trading indicator and technical analysis stock screen presents technical stock market timing signals for technical investment analysis like screen stochastic or moving average trading system.. Screen includes following popular indicators and trading systems: Relative Strength Index (RSI), Williams' Percentage Range (W%R) and Lane's Stochastic (%D–Slow), moving average, macd convergence divergence, bullish and bearish divergence. For the best result different technical indicators should be analyzed in different time frames together with trend analysis, sector/industry ranking and stock timing alerts.

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- 5/10/2024 -
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iShares MSCI Switzerland Index (EWL) Technical Analysis

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Summary:
Weekly :Broken trend resistance line
Daily :Williams' Percentage Range and Lane's Stochastic are strongly overboughtPrice has crossed above the 50 Day Moving AverageBroken trend resistance lineThe price touches the upper Bollinger Band
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It was a fourth consecutive positive week for the iShares MSCI Switzerland Index (EWL). During the week, the EWL gained 1.71 points, or 3.70%, and closed at 47.94 on Friday, May 10, 2024. Weekly volume was -37% below average.

Long-term trend: [See EWL long-term trend chart]
A long-term downtrend had started on December 28, 2021 at 53.06 and reached 36.02 on October 13, 2022. EWL lost 17.04 points, or 32.11%, in 41 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (44.39) 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. EWL 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 long-term trend.

Medium-term trend: [See EWL medium-term trend chart]
A medium-term uptrend had started on October 13, 2022 at 36.02 and reached 48.94 on May 3, 2023. EWL gained -12.92 points, or -35.87%, in 28 weeks. The chart has formed a Ascending Triangle chart pattern. The trend support level is at 44.39 and resistance is at 48.84. An Ascending Triangle is a variation of triangle formation that has a flat resistance line and rising support line. The higher lows indicate an increasing demand and give the ascending triangle definitive bullish bias. An Ascending Triangle usually represents an accumulation stage in bullish market. An Ascending Triangle is considered to be a continuation pattern, especially in an uptrend, but it may also mark a reversal in a downtrend. Use the following link to access a Ascending Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Ascending Triangle pattern in a medium-term trend.

Weekly Technical Indicators: [See EWL weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since March 28, 2024. Use the following link to access a MACD help.

Short-term trend: [See EWL short-term trend chart]
A short-term downtrend had started on March 13, 2024 at 48.86 and reached 45.04 on April 16, 2024. EWL lost 3.82 points, or 7.82%, in 34 days. The chart has formed a Descending Triangle chart pattern. The downtrend resistance line (45.17) 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. EWL 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 short-term trend.

Daily Technical Indicators: [See EWL daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily 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 daily MACD line is above its signal line since April 22, 2024. The distance between MACD and the signal line is relatively high and getting bigger.

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.

During the last week, the price has advanced above the 50 Day Moving Average. Such crossover is considered a bullish 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 69.25
Williams' Percentage Range (W%R) 6.20
Strong Overbought
Lane's Stochastic (%D-Slow) 97.12
Strong Overbought
Greed/Fear Indicator (GFI) 86.73
Overbought
Moving Average Converg./Diverg. (MACD) -0.11
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 53.43
Williams' Percentage Range (W%R) 28.50
Lane's Stochastic (%D-Slow) 25.84
Greed/Fear Indicator (GFI) 50.67
Moving Average Converg./Diverg. (MACD) 0.35
Trading Signals
Description Value Chart
Monthly Trendline Resistance 49.20
Monthly Trendline Support 48.86
Quarterly Trendline Resistance 48.84
Upper Bollinger Band 48.05
Price 47.94
Daily Stochastic Crossing 47.89
50 Day Moving Average 46.84
Parabolic System 46.38
20 Day Moving Average 46.09
Weekly Stochastic Crossing 45.95
Yearly Trendline Resistance 45.81
Weekly Trendline Resistance 45.61
Weekly Trendline Support 45.17
Lower Bollinger Band 44.96
Yearly Trendline Support 44.39
Quarterly Trendline Support 44.39
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Descending Triangle
Low 45.04
Low Date 04/16/2024
High 47.95
High Date 05/10/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Descending Triangle
Status Broken Resistance
Resistance 45.61
Support 45.17
High 48.86
High Date 03/13/2024
Low 45.04
Low Date 04/16/2024
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 49.20
Support 48.86
Low 41.55
Low Date 10/27/2023
High 48.86
High Date 03/13/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Ascending Triangle
Status Valid
Resistance 48.84
Support 44.39
Low 36.02
Low Date 10/13/2022
High 48.94
High Date 05/03/2023
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 45.81
Support 44.39
High 53.06
High Date 12/28/2021
Low 36.02
Low Date 10/13/2022
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.