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Advanced TA SearchArchive
- 9/22/2023 -
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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 -2.32 points, or -3.68%, and closed at 60.80 on Friday, September 22, 2023. EWY was trading at average weekly trading volume.
 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 trend support level is at 68.95 and resistance is at 55.87. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a long-term trend.
 Medium-term trend: [See EWY medium-term trend chart]
A medium-term uptrend had started on October 13, 2022 at 47.19 and reached 67.95 on July 25, 2023. EWY gained -20.76 points, or -43.99%, in 40 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (68.95) 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 EWY weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since August 11, 2023. 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 September 15, 2023 at 63.74 and reached 60.45 on September 21, 2023. EWY lost 3.29 points, or 5.16%, in 6 days. The price is now at the 10.64% retracement level.
Daily Technical Indicators: [See EWY daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
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.
The price touches the lower Bollinger Band. The distance between the Bollinger Bands (4.93%) is close to one year low (4.71%). It is 53.67% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. 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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