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Downtrend Broken Resist.Archive
- 7/31/2026 -
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iShares MSCI Brazil Index (EWZ) Technical Analysis
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| Summary:
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| | It was a second consecutive positive week for the iShares MSCI Brazil Index (EWZ). During the week, the EWZ gained 0.92 points, or 2.57%, and closed at 36.65 on Friday, July 31, 2026. Weekly volume was -39% below average.
 Long-term trend: [See EWZ long-term trend chart]
A long-term uptrend had started on December 18, 2024 at 22.26 and reached 42.02 on April 14, 2026. EWZ gained -19.76 points, or -88.77%, in 68 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 34.92 and resistance is at 46.78. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.
 Medium-term trend: [See EWZ medium-term trend chart]
A medium-term downtrend had started on April 14, 2026 at 42.02 and reached 33.53 on June 8, 2026. EWZ lost 8.49 points, or 20.20%, in 7 weeks. The chart has formed a Descending Triangle chart pattern. The downtrend resistance line (33.85) 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. EWZ 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 medium-term trend.
 Weekly Technical Indicators: [See EWZ weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since May 8, 2026. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
 Short-term trend: [See EWZ short-term trend chart]
A short-term uptrend had started on June 8, 2026 at 33.53 and reached 36.84 on July 31, 2026. EWZ gained -3.31 points, or -9.87%, in 53 days. The price is now at the 5.74% retracement level.
 Daily Technical Indicators: [See EWZ daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. Daily MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 Williams' Percentage Range help.
The daily MACD line is above its signal line since June 11, 2026. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
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