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Vitalii Liubimov's Avatar
published in Blogs
May 28, 2019

Germany ETF generates a bullish signal after gap higher

The iShares MSCI Germany ETF (NYSE: EWG) gapped lower on May 23 and then gapped higher on May 24. The interesting thing is that the gap lower caused the ETF to move outside of a trend channel that has defined the various cycles over the last few months and the gap higher moved it back into the channel.

The oscillators aren’t in oversold territory, but the stochastic readings did come close and have now made a bullish crossover.

One potential concern is the fact that the 10-day moving average just crossed bearishly below the 50-day. The moving averages hadn’t made a bearish cross like that since last August. At the time of the last bearish crossover, the EWG was in a similar pattern with a tight trend channel, but that channel was downwardly sloped.

I am more bullish than bearish on EWG and part of the reason is due to a bullish signal from the Tickeron AI Trend Prediction Engine. The engine produced a bullish signal for the EWG on May 23. The confidence level for the signal was 89% and 85% of past signals on the fund have been successful. The signal calls for a gain of at least 4% over the next month.

Related Ticker: EWG

EWG sees MACD Histogram just turned negative

EWG saw its Moving Average Convergence Divergence Histogram (MACD) turn negative on May 28, 2024. This is a bearish signal that suggests the stock could decline going forward. Tickeron's A.I.dvisor looked at 48 instances where the indicator turned negative. In of the 48 cases the stock moved lower in the days that followed. This puts the odds of a downward move at .

Price Prediction Chart

Technical Analysis (Indicators)

Bearish Trend Analysis

The 10-day RSI Indicator for EWG moved out of overbought territory on May 16, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 28 similar instances where the indicator moved out of overbought territory. In of the 28 cases, the stock moved lower in the following days. This puts the odds of a move lower at .

The Momentum Indicator moved below the 0 level on June 13, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on EWG as a result. In of 81 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .

EWG moved below its 50-day moving average on June 13, 2024 date and that indicates a change from an upward trend to a downward trend.

The 10-day moving average for EWG crossed bearishly below the 50-day moving average on June 21, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 18 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .

Following a 3-day decline, the stock is projected to fall further. Considering past instances where EWG declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

The Aroon Indicator for EWG entered a downward trend on June 21, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.

Bullish Trend Analysis

The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 3 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where EWG advanced for three days, in of 339 cases, the price rose further within the following month. The odds of a continued upward trend are .

EWG may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.

Fundamental Analysis (Ratings)

Fear & Greed

Tickeron has a negative outlook on this ticker and predicts a further decline by more than 1.00% within the next month with a likelihood of 85%.

Notable companies

The most notable companies in this group are Merck & Co (NYSE:MRK), Newmont Corp (NYSE:NEM).

Industry description

The investment seeks to track the investment results of the MSCI Germany Index. The fund generally will invest at least 80% of its assets in the component securities of its underlying index and in depositary receipts representing securities of the underlying index. The underlying index is designed to measure the performance of the large- and mid-capitalization segments of the German equity market. The fund is non-diversified.

Market Cap

The average market capitalization across the iShares MSCI Germany ETF ETF is 74.02B. The market cap for tickers in the group ranges from 64.65K to 331.75B. MRK holds the highest valuation in this group at 331.75B. The lowest valued company is BAYN at 64.65K.

High and low price notable news

The average weekly price growth across all stocks in the iShares MSCI Germany ETF ETF was 4%. For the same ETF, the average monthly price growth was 5%, and the average quarterly price growth was 828%. NEM experienced the highest price growth at 6%, while BNR experienced the biggest fall at -12%.

Volume

The average weekly volume growth across all stocks in the iShares MSCI Germany ETF ETF was 57%. For the same stocks of the ETF, the average monthly volume growth was 43% and the average quarterly volume growth was 26%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 44
P/E Growth Rating: 43
Price Growth Rating: 46
SMR Rating: 67
Profit Risk Rating: 48
Seasonality Score: 29 (-100 ... +100)
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