iShares MSCI Taiwan Index Fund(EWT) is in an downtrend

(28-Jan-2008) (28-Jan-2008) iShares MSCI Taiwan Index Fund(EWT) closed at 13.7, down -0.05 or -0.36 % today. Based on our analysis, iShares MSCI Taiwan Index Fund(EWT) is in an downtrend.

The closing price of iShares MSCI Taiwan Index Fund(EWT) is below its 50 day moving average of 14.67 (Designated by blue line). This indicates that the trend is down. The MACD histogram(Gray bars on the bottom) below the signal line(Dark Red Line) tells us that iShares MSCI Taiwan Index Fund(EWT) is losing momentum. The loss of momentum in a downtrend confirms that the downtrend is intact. The MACD histogram crossed below the signal line on 23-Jan-2008, about 5 trading days ago.