EWW closes higher for the 4th day in a row
iShares MSCI Mexico Capped ETF (EWW) Technical Analysis Report for Oct 23, 2020 | by Techniquant Editorial Team
Moving higher for the 4th day in a row, EWW ended the week 3.46% higher at 36.48 after gaining $0.27 (0.75%) today. Today's close at 36.48 marks the highest recorded closing price since March 10th.
Daily Candlestick Chart (EWW as at Oct 23, 2020):
Friday's trading range has been $0.39 (1.07%), that's far below the last trading month's daily average range of $0.66. Things look different on the weekly timeframe, where the market's trading range of the last week has been slightly above the market's average weekly trading range. The longer-term, monthly volatility is currently slightly lower than usual for EWW.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Among the two market conditions that our pattern recognition engine identified today, the statistics for the Price Action based market condition "4 Consecutive Higher Closes" stand out. Its common bullish interpretation has been confirmed for EWW. Out of 73 times, EWW closed higher 54.79% of the time on the next trading day after the market condition occurred.