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Apr 26, 2019

Short-term trend channel forms on Hong Kong ETF

The Hong Kong market has been trending higher since the end of October. Over the last few months, a trend channel has formed on the chart of the iShares MSCI Hong Kong ETF (NYSE: EWH) with a more defined cyclical pattern to it. The lows from early March and late March connect to form the lower rail while the highs from February and April connect to form the upper rail. The ETF has drifted lower from that high earlier in April and the fund is now hitting that lower rail.

We see that the daily stochastic readings reached oversold territory in the last few days and this is the first time they have been oversold since late October. The indicators made a bullish crossover on April 25 which is a possible bullish sign for the EWH.

In addition to the chart, the Tickeron AI Trend Prediction tool generated a bullish signal on the EWH on April 24. That signal showed a confidence level of 86% and it calls for a gain of at least 4% within the next month. Previous predictions on the EWH have been successful 76% of the time.

What is really interesting about the EWH is that it didn’t dip near as much in December as other global indices and ETFs. From October 29 when the EWH hit its low close through December 24, the EWH gained 5.09%. The S&P 500 was down 11.57% during that time period and the Shanghai Composite index was down 2.76%. As a result of not falling as much in December, the EWH has outperformed the S&P and the SSEC over the last six months.

Related Ticker: EWH

EWH in -3.23% downward trend, falling for three consecutive days on April 16, 2024

Moving lower for three straight days is viewed as a bearish sign. Keep an eye on this stock for future declines. Considering data from situations where EWH declined for three days, in of 290 cases, the price declined further within the following month. The odds of a continued downward trend are .

Price Prediction Chart

Technical Analysis (Indicators)

Bearish Trend Analysis

The Momentum Indicator moved below the 0 level on April 12, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on EWH as a result. In of 95 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .

The Moving Average Convergence Divergence Histogram (MACD) for EWH turned negative on March 18, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 48 similar instances when the indicator turned negative. In of the 48 cases the stock turned lower in the days that followed. This puts the odds of success at .

EWH moved below its 50-day moving average on March 18, 2024 date and that indicates a change from an upward trend to a downward trend.

The 10-day moving average for EWH crossed bearishly below the 50-day moving average on March 27, 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 .

The Aroon Indicator for EWH entered a downward trend on April 16, 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 RSI Indicator demonstrates that the ticker has stayed in the oversold zone for 1 day, which means it's wise to expect a price bounce in the near future.

The Stochastic Oscillator demonstrated that the ticker has stayed in the oversold zone for 2 days, which means it's wise to expect a price bounce in the near future.

EWH 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

Industry description

The investment seeks to track the investment results of the MSCI Hong Kong 25/50 Index. The fund seeks to track the investment results of the index, which is a free float-adjusted market capitalization-weighted index that is designed to measure the performance of the large- and mid-capitalization segments of the equity market in Hong Kong. It generally will invest at least 80% of its assets in the component securities of its underlying index and in investments that have economic characteristics that are substantially identical to the component securities of its underlying index. The fund is non-diversified.

High and low price notable news

The average weekly price growth across all stocks in the iShares MSCI Hong Kong ETF ETF was -8%. For the same ETF, the average monthly price growth was -4%, and the average quarterly price growth was -6%. FUTU experienced the highest price growth at -8%, while FUTU experienced the biggest fall at -8%.
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EWHDaily Signal changed days agoGain/Loss if shorted
 
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A.I.Advisor
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General Information

Category PacificAsiaexJapanStk

Profile
Fundamentals
Details
Category
China Region
Address
iShares, Inc.400 Howard StreetSan Francisco
Phone
N/A
Web
www.ishares.com
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