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Advanced TA SearchArchive
- 4/26/2024 -
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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 a first positive week after 3 consecutive negative weeks for the iShares MSCI South Korea Index (EWY). During the week, the EWY gained 2.02 points, or 3.29%, and closed at 63.34 on Friday, April 26, 2024. It was the best weekly gain since February 2, 2024. Weekly volume was -25% below 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 downtrend resistance line (57.96) 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 EWY medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 54.49 and reached 68.20 on March 21, 2024. EWY gained -13.71 points, or -25.16%, in 20 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 59.67 and resistance is at 69.42. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern 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 April 12, 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 March 21, 2024 at 68.20 and reached 60.60 on April 17, 2024. EWY lost 7.60 points, or 11.14%, in 27 days. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (62.56) 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 short-term trend.
Daily Technical Indicators: [See EWY daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish 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 link to access Lane's Stochastic help.
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 risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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.
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