iShares MSCI Japan Index(EWJ) is in an uptrend but could lose its momentum

(23-May-2008) (23-May-2008) iShares MSCI Japan Index(EWJ) closed at 13.54, up 0.18 or 1.35 % for the day. Based on our analysis, iShares MSCI Japan Index(EWJ) is in an uptrend but could lose its momentum.

The closing price of iShares MSCI Japan Index(EWJ) is above its 50 day moving average of 13 (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 Japan Index(EWJ) is losing momentum. Sustained loss of momentum could put the uptrend at risk. The MACD histogram crossed below the signal line on 21-May-2008, about 8 trading days ago.