iShares MSCI Taiwan Index(EWT) is in an downtrend

(23-May-2008) (23-May-2008) iShares MSCI Taiwan Index(EWT) closed at 16.3, up 0.11 or 0.68 % for the day. Based on our analysis, iShares MSCI Taiwan Index(EWT) is in an downtrend.

The closing price of iShares MSCI Taiwan Index(EWT) is below its 50 day moving average of 16.47 (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(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 21-May-2008, about 5 trading days ago.