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- 4/12/2024 -
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iShares MSCI United Kingdom Index (EWU) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the iShares MSCI United Kingdom Index (EWU). During the week, the EWU dropped -0.44 points, or -1.29%, and closed at 33.72 on Friday, April 12, 2024. It was the worst weekly loss since January 19, 2024. Weekly volume was 29% above average.
 Long-term trend: [See EWU long-term trend chart]
A long-term downtrend had started on February 10, 2022 at 35.09 and reached 25.36 on September 28, 2022. EWU lost 9.73 points, or 27.73%, in 32 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (32.14) is broken. A broken support is considered to be a long-term bullish 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 resistance line in a long-term trend.
Medium-term trend: [See EWU medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 30.14 and reached 34.53 on April 4, 2024. EWU gained -4.39 points, or -14.57%, in 22 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (32.58) is broken. Usually a broken resistance is considered to be a long-term bullish 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 resistance line in a medium-term trend.
 Weekly Technical Indicators: [See EWU weekly technical indicators chart]
Weekly 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 weekly Williams' Percentage Range or strongly overbought weekly 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 November 24, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.
 Short-term trend: [See EWU short-term trend chart]
A short-term uptrend had started on February 13, 2024 at 31.58 and reached 34.53 on April 4, 2024. EWU gained -2.95 points, or -9.34%, in 51 days. The chart has formed a Rising Channel chart pattern.
 Daily Technical Indicators: [See EWU daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since April 9, 2024.
During the last week, the price has declined below 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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