iShares MSCI Hong Kong Index Fund(EWH) is in an downtrend but momentum is showing some life

(3-Mar-2008) (3-Mar-2008) iShares MSCI Hong Kong Index Fund(EWH) closed at 18.46, down -0.59 or -3.1 % today. Based on our analysis, iShares MSCI Hong Kong Index Fund(EWH) is in an downtrend but momentum is showing some life.

The closing price of iShares MSCI Hong Kong Index Fund(EWH) is below its 50 day moving average of 20.21 (Designated by blue line). This indicates that the trend is down. The MACD histogram(Gray bars on the bottom) above the signal line(Dark Red Line) tells us that iShares MSCI Hong Kong Index Fund(EWH) is gaining momentum. An downtrend with sustained rising momentum could be early sign of reversal. The MACD histogram crossed above the signal line on 14-Feb-2008, about 12 trading days ago.