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Technical Watch: Focusing on Shares of Italy Index MSCI Ishares (EWI)

14 November 2017

On the other side, a stock may be considered to be in a downtrend if trading below the moving average and sloping downward. As you can see by the chart below, the Tenkan Line is quite different than a 9SMA. Moving averages are considered to be lagging indicators meaning that they confirm trends. Developed by hedge fund manager Joel Greenblatt, the intention of the formula is to spot high quality companies that are trading at an attractive price. Many successful investors have learned to be patient, disciplined, and ready to jump on any opportunity that arises. Oakworth Capital Inc. now owns 2,430 shares of the exchange traded fund's stock worth $100,000 after buying an additional 110 shares during the last quarter. As markets tend to move in cycles, it may be necessary to align the portfolio to the category that is best positioned to make consistent gains in the future.

Investors have the option to employ a wide variety technical indicators when conducting stock research - and we will take a look at a few more here.

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Ishares MSCI Europe IMI Index ETF (XEU.TO) have moved lower over the course of the past week revealing negative downward near-term momentum for the shares. MA's can be calculated for any time period, but two very popular time frames are the 50-day and 200-day moving averages. The RSI may be useful for spotting abnormal price activity and volatility. The ADX was created by J. Welles Wilder to help determine how strong a trend is. Wilder has developed multiple indicators that are still quite popular in today's investing landscape.

The Williams Percent Range or Williams %R is another technical indicator worth checking out. EAFE Growth Index MSCI Ishares (EFG) now has a 14 day Williams %R of -55.62. The Williams %R is similar to the Stochastic Oscillator except it is plotted upside-down. A value between 0 to -20 would represent a strong overbought condition. A CCI closer to +100 may provide an overbought signal, and a CCI near -100 may offer an oversold signal. Moving averages can be used to help filter out the day to day noise created by other factors.

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A widely used tool among technical stock analysts is the moving average. ADX is used to gauge trend strength but not trend direction. When combined with the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI), it can help decipher the trend direction as well. They may also be used to help find support or resistance levels.

Currently, the 14-day ADX for EAFE Value Index MSCI Ishares (EFV) is sitting at 15.49. In general, an ADX value from 0-25 would indicate an absent or weak trend. A reading under 20 would indicate no trend, and a reading from 20-25 would suggest that there is no clear trend signal. If the RSI is closer to 100, this may indicate a period of stronger momentum. Although there are many types of investments out there, investing in stocks has traditionally provided the highest potential for returns. Ishares MSCI World Index ETF (XWD.TO) presently has a 14-day Commodity Channel Index (CCI) of -97.85. Despite the name, CCI can be used on other investment tools such as stocks. The ADX is typically used in conjunction with the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) to help spot trend direction as well as trend strength. Traders may use the indicator to determine stock trends or to identify overbought/oversold conditions. Alternately, if the indicator goes under -80, this may show the stock as being oversold.

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Placing iShares Trust - iShares Russell 2000 ETF (ARCA:IWM) shares under the microscope we note that the firm has a current Return on Equity of 0.185819. The 14-day RSI is now at 44.77, the 7-day stands at 37.07, and the 3-day is sitting at 22.05. The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of stock price movements. The RSI operates in a range-bound area with values between 0 and 100.

Technical Watch: Focusing on Shares of Italy Index MSCI Ishares (EWI)