iShares MSCI Taiwan Index(EWT) is in an uptrend but could lose its momentum

(29-Apr-2008) (29-Apr-2008) iShares MSCI Taiwan Index(EWT) closed at 16.52, down -0.42 or -2.48 % today. Based on our analysis, iShares MSCI Taiwan Index(EWT) is in an uptrend but could lose its momentum.

The closing price of iShares MSCI Taiwan Index(EWT) is above its 50 day moving average of 16.02 (Designated by blue line). This indicates that the trend is up. The MACD histogram(Gray bars on the bottom) below the signal line(Dark Red Line) tells us that iShares MSCI Taiwan Index(EWT) is losing momentum. Sustained loss of momentum could put the uptrend at risk. The MACD histogram crossed below the signal line on 24-Apr-2008, about 5 trading days ago.