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Downtrend Broken Resist.Archive - 4/19/2024 - Sign In to see current Signals. |
iShares MSCI Japan Index (EWJ) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was the negative week for the iShares MSCI Japan Index (EWJ). During the week, the EWJ dropped -2.56 points, or -3.71%, and closed at 66.49 on Friday, April 19, 2024. Weekly volume was 18% above average. Long-term trend: [See EWJ long-term trend chart] A long-term downtrend had started on September 15, 2021 at 74.12 and reached 47.64 on October 13, 2022. EWJ lost 26.48 points, or 35.73%, in 56 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (61.61) 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 EWJ medium-term trend chart] A medium-term uptrend had started on October 26, 2023 at 57.20 and reached 72.07 on March 22, 2024. EWJ gained -14.87 points, or -26.00%, in 21 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (71.75) 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. EWJ 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 EWJ weekly technical indicators chart] Weekly technical indicators are neutral. During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. Use the following link to access a MACD help. Short-term trend: [See EWJ short-term trend chart] A short-term downtrend had started on March 22, 2024 at 72.07 and reached 66.35 on April 19, 2024. EWJ lost 5.72 points, or 7.94%, in 28 days. Price is near the trend low. Daily Technical Indicators: [See EWJ daily technical indicators chart] Daily Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range and 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 links to access Lane's Stochastic and Williams' Percentage Range help. The daily MACD line is below its signal line since March 25, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.
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