Downtrend Broken Resist.Archive
- 9/22/2023 -
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iShares MSCI EAFE Index (EFA) Technical Analysis
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|It was the negative week for the iShares MSCI EAFE Index (EFA). During the week, the EFA dropped -1.48 points, or -2.07%, and closed at 69.90 on Friday, September 22, 2023. Weekly volume was -32% below average. |
Long-term trend: [See EFA long-term trend chart]
A long-term downtrend had started on September 7, 2021 at 82.29 and reached 54.61 on October 13, 2022. EFA lost 27.68 points, or 33.64%, in 57 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 31.84 and resistance is at 74.13. A Broadening Descending 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend.
Medium-term trend: [See EFA medium-term trend chart]
A medium-term downtrend had started on July 28, 2023 at 74.74 and reached 69.31 on August 18, 2023. EFA lost 5.43 points, or 7.27%, in 3 weeks. The price is now at the 10.87% retracement level.
Weekly Technical Indicators: [See EFA weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range. 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 weekly MACD line is below its signal line since May 26, 2023. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
Short-term trend: [See EFA short-term trend chart]
A short-term downtrend had started on September 1, 2023 at 72.18 and reached 69.84 on September 21, 2023. EFA lost 2.34 points, or 3.24%, in 20 days. Price is near the trend low.
Daily Technical Indicators: [See EFA 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 is falling, and it was 3.26% on Friday. It is 53.50% lower than one year average. It indicates the period of low volatility of the stock price. 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.