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Advanced TA SearchArchive
- 9/6/2024 -
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iShares MSCI South Korea Index (EWY) Technical Analysis
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| Summary:
| | Weekly : | | Daily : 
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| | It was the negative week for the iShares MSCI South Korea Index (EWY). During the week, the EWY dropped -5.00 points, or -7.63%, and closed at 60.50 on Friday, September 6, 2024. Weekly volume was 6% above average.
 Long-term trend: [See EWY long-term trend chart]
A long-term downtrend had started on January 8, 2021 at 96.29 and reached 47.19 on October 13, 2022. EWY lost 49.10 points, or 50.99%, in 91 weeks. The chart has formed a Symmetric Triangle chart pattern. The price is near the trend resistance line (55.42). 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 long-term trend.
 Medium-term trend: [See EWY medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 54.49 and reached 69.52 on July 11, 2024. EWY gained -15.03 points, or -27.58%, in 36 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (65.65) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. EWY may retest the broken support line. It is considered to be a resistance 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 support in a medium-term trend.
 Weekly Technical Indicators: [See EWY weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since July 26, 2024. The distance between MACD and the signal line is low, but getting bigger. Use the following link to access a MACD help.
 Short-term trend: [See EWY short-term trend chart]
A short-term downtrend had started on August 23, 2024 at 67.24 and reached 60.37 on September 6, 2024. EWY lost 6.87 points, or 10.22%, in 14 days. Price is near the trend low.
 Daily Technical Indicators: [See EWY daily technical indicators chart]
Daily Lane's Stochastic is strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold 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 link to access Lane's Stochastic help.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
The price has closed on Friday below the lower Bollinger Band. It is considered a bearish signal. 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 crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. 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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