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Uptrend SupportArchive
- 4/19/2024 -
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iShares MSCI Brazil Index (EWZ) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the iShares MSCI Brazil Index (EWZ). During the week, the EWZ dropped -0.53 points, or -1.69%, and closed at 30.74 on Friday, April 19, 2024. Weekly volume was 19% above average.
 Long-term trend: [See EWZ long-term trend chart]
A long-term downtrend had started on January 2, 2020 at 48.48 and reached 20.14 on March 19, 2020. EWZ lost 28.34 points, or 58.46%, in 11 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (26.73) 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 EWZ medium-term trend chart]
A medium-term uptrend had started on March 23, 2023 at 25.00 and reached 35.74 on December 19, 2023. EWZ gained -10.74 points, or -42.96%, in 38 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (31.79) 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. EWZ 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 EWZ weekly technical indicators chart]
Weekly Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Lane's Stochastic or strongly oversold weekly 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is below its signal line since January 26, 2024. Use the following link to access a MACD help.
 Short-term trend: [See EWZ short-term trend chart]
A short-term downtrend had started on March 20, 2024 at 32.87 and reached 29.81 on April 18, 2024. EWZ lost 3.06 points, or 9.31%, in 29 days. The price is now at the 30.39% retracement level.
 Daily Technical Indicators: [See EWZ daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic.
The daily MACD line is below its signal line since April 11, 2024. This is an indication that the short-term trend is down.
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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
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| Industry |
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| Daily Trend |
| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| High |
32.87 |
| High Date |
03/20/2024 |
| Low |
29.81 |
| Low Date |
04/18/2024 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
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| Resistance |
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| Support |
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| High |
34.13 |
| High Date |
02/27/2024 |
| Low |
29.81 |
| Low Date |
04/18/2024 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Falling Wedge |
| Status |
Broken Support |
| Resistance |
32.19 |
| Support |
31.56 |
| High |
35.74 |
| High Date |
12/19/2023 |
| Low |
29.81 |
| Low Date |
04/18/2024 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Rising Wedge |
| Status |
Broken Support |
| Resistance |
37.01 |
| Support |
31.79 |
| Low |
25.00 |
| Low Date |
03/23/2023 |
| High |
35.74 |
| High Date |
12/19/2023 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Symmetric Triangle |
| Status |
Broken Resistance |
| Resistance |
29.12 |
| Support |
26.73 |
| High |
48.48 |
| High Date |
01/02/2020 |
| Low |
20.14 |
| Low Date |
03/19/2020 |
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