iShares Russell 2000 ETF Forecast
Evaluation of iShares Russell 2000 ETF downgraded after the last trading session.
(Updated on Apr 25, 2024)
The iShares Russell 2000 ETF price fell by -0.607% on the last day (Thursday, 25th Apr 2024) from $197.69 to $196.49. During the last trading day the ETF fluctuated 1.58% from a day low at $193.78 to a day high of $196.83. The price has fallen in 7 of the last 10 days and is down by -2.87% for this period. Volume has increased on the last day by 5 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 31 million shares were bought and sold for approximately $6.14 billion.
The ETF is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $193.03 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect iShares Russell 2000 ETF with a 90% probability to be traded between $195.97 and $214.50 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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IWM Signals & Forecast
There are mixed signals in the ETF today. The iShares Russell 2000 ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $202.43. On a fall, the ETF will find some support from the short-term average at $195.25. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 1.93%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for iShares Russell 2000 ETF
iShares Russell 2000 finds support from accumulated volume at $195.58 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $3.06 between high and low, or 1.58%. For the last week, the ETF has had daily average volatility of 1.66%.
Our recommended stop-loss: $187.21 (-4.72%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (IWM) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect iShares Russell 2000 to open at $195.70, and during the day (based on 14 day Average True Range), to move between $192.96 and $200.02, which gives a possible trading interval of +/-$3.53 (+/-1.80%) up or down from last closing price. If iShares Russell 2000 takes out the full calculated possible swing range there will be an estimated 3.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $195.58 (0.46%) than the resistance at $200.90 (2.24%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is iShares Russell 2000 ETF A Buy?
iShares Russell 2000 holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.311 Hold/Accumulate Downgraded
Predicted Opening Price for iShares Russell 2000 of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $195.70 ( 0.403%) | $196.49 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IWM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 198.75 | 1.15 % | |
| R2 | 197.59 | 0.558 % | ||
| R1 | 196.87 | 0.191 % | ||
| Current price: | 196.49 | |||
| Support | S1 | 194.53 | -1.00 % | |
| S2 | 193.81 | -1.36 % | ||
| S3 | 192.64 | -1.96 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 203.73 | 3.68 % | |
| R2 | 202.37 | 2.99 % | ||
| R1 | 200.90 | 2.24 % | ||
| Current price | 196.49 | |||
| Support | S1 | 195.58 | -0.463% | |
| S2 | 194.68 | -0.92% | ||
| S3 | 192.78 | -1.89% |
IWM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 21, 2024 | Mar 21, 2024 | Mar 27, 2024 | $0.522 | 0.249% |
| 2 | Dec 20, 2023 | Dec 20, 2023 | Dec 20, 2023 | $0.734 | 0.374% |
| 3 | Nov 25, 2022 | Sep 26, 2023 | Oct 02, 2023 | $0.83 | 0.476% |
| 4 | Nov 25, 2022 | Jun 07, 2023 | Jun 13, 2023 | $0.509 | 0.271% |
| 5 | Mar 22, 2023 | Mar 23, 2023 | Mar 29, 2023 | $0.631 | 0.360% |
FAQ
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