EWW closes higher for the 2nd day in a row

iShares MSCI Mexico Capped ETF (EWW) Technical Analysis Report for Oct 21, 2020 | by Techniquant Editorial Team


EWW rises to highest close since June 8th
EWW closes higher for the 2nd day in a row
EWW pushes through Tuesday's high


Moving higher for the 2nd day in a row, EWW ended Wednesday at 35.99 gaining $0.34 (0.95%). Today's close at 35.99 marks the highest recorded closing price since June 8th. Closing above Tuesday's high at 35.80, the market confirmed its breakout through the prior session high after trading up to $0.45 above it intraday.

Daily Candlestick Chart (EWW as at Oct 21, 2020):

Daily technical analysis candlestick chart for iShares MSCI Mexico Capped ETF (EWW) as at Oct 21, 2020

Wednesday's trading range has been $0.55 (1.54%), that's below the last trading month's daily average range of $0.76. Weekly volatility is also lower, being slightly below the market's average weekly trading range. The longer-term, monthly volatility is currently slightly higher than usual for EWW.

One bullish candlestick pattern matches today's price action, the White Candle.

Prices are trading close to the key technical support level at 35.57 (S1).

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Among the four market conditions that our pattern recognition engine identified today, the statistics for the Price Action based market condition "2 Consecutive Higher Closes" stand out. Its common bullish interpretation has been confirmed for EWW. Out of 305 times, EWW closed higher 53.11% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after three trading days, showing a win rate of 52.13% with an average market move of 0.14%.

Market Conditions for EWW as at Oct 21, 2020

Loading Market Conditions for EWW (iShares MSCI Mexico Capped ETF)...
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EWW closes within previous day's range

Nov 25, 2020
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