|
|
Downtrend ResistanceArchive
- 4/26/2024 -
Sign In to see current Signals. |
iShares Russell 2000 Index (IWM) Technical Analysis
|
 |
| Summary:
| | Weekly :  | | Daily :
Move cursor over the icon to see details.
| | It was a first positive week after 3 consecutive negative weeks for the iShares Russell 2000 Index (IWM). During the week, the IWM gained 5.22 points, or 2.70%, and closed at 198.36 on Friday, April 26, 2024. Weekly volume was -14% below average.
 Long-term trend: [See IWM long-term trend chart]
A long-term uptrend had started on October 27, 2023 at 161.67 and reached 211.88 on March 28, 2024. IWM gained -50.21 points, or -31.06%, in 21 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (221.05) is broken. A broken support is considered to be a long-term bearish 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 support in a long-term trend.
 Medium-term trend: [See IWM medium-term trend chart]
A medium-term downtrend had started on March 28, 2024 at 211.88 and reached 191.34 on April 19, 2024. IWM lost 20.54 points, or 9.69%, in 3 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The price is near the trend resistance line (197.85). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See IWM weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since April 12, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. Use the following link to access a MACD help.
 Short-term trend: [See IWM short-term trend chart]
A short-term uptrend had started on April 19, 2024 at 191.34 and reached 199.32 on April 23, 2024. IWM gained -7.98 points, or -4.17%, in 4 days. The price is now at the 12.03% retracement level.
Daily Technical Indicators: [See IWM 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.
The daily MACD line is below its signal line since April 1, 2024. The distance between MACD and the signal line is low and getting smaller.
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.
| |
|
|