iShares Nasdaq Biotechnology Index Fund ETF Forecast
iShares Nasdaq Biotechnology Index Fund ETF upgraded from Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Mar 28, 2024)
The iShares Nasdaq Biotechnology Index Fund ETF price fell by -0.414% on the last day (Thursday, 28th Mar 2024) from $137.79 to $137.22. During the last trading day the ETF fluctuated 0.93% from a day low at $137.13 to a day high of $138.40. The price has been going up and down for this period, and there has been a 1.11% gain for the last 2 weeks. Volume has increased on the last day by 197 thousand 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, 1 million shares were bought and sold for approximately $197.55 million.
The ETF is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect iShares Nasdaq Biotechnology Index Fund ETF with a 90% probability to be traded between $136.49 and $142.43 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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IBB Signals & Forecast
The iShares Nasdaq Biotechnology Index Fund ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $136.69 and $136.89. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 18, 2024, and so far it has risen 1.45%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. 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. The ETF had a Golden Star Signal on Friday, July 14, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
Golden Star 12 Months
The ETF had a Golden Star Signal on Friday, July 14, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
Support, Risk & Stop-loss for iShares Nasdaq Biotechnology Index Fund ETF
iShares Nasdaq Biotechnology Index Fund finds support from accumulated volume at $136.25 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the ETF tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $1.27 between high and low, or 0.93%. For the last week the ETF has had daily average volatility of 1.06%.
Our recommended stop-loss: $130.64 (-4.79%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (IBB) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect iShares Nasdaq Biotechnology Index Fund to open at $137.58, and during the day (based on 14 day Average True Range), to move between $135.38 and $139.06, which gives a possible trading interval of +/-$1.84 (+/-1.34%) up or down from last closing price. If iShares Nasdaq Biotechnology Index Fund takes out the full calculated possible swing range there will be an estimated 2.69% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $136.25 (0.71%) than the resistance at $139.16 (1.41%), 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 Nasdaq Biotechnology Index Fund ETF A Buy?
iShares Nasdaq Biotechnology Index Fund 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. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.097 Hold/Accumulate Upgraded
Predicted Opening Price for iShares Nasdaq Biotechnology Index Fund of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$137.58 ( 0.265%) | $137.22 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IBB
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 138.85 | 1.19 % | |
R2 | 138.37 | 0.84 % | ||
R1 | 138.07 | 0.618 % | ||
Current price: | 137.22 | |||
Support | S1 | 137.10 | -0.0888 % | |
S2 | 136.80 | -0.307 % | ||
S3 | 136.31 | -0.661 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 139.81 | 1.89 % | |
R2 | 139.42 | 1.60 % | ||
R1 | 139.16 | 1.41 % | ||
Current price | 137.22 | |||
Support | S1 | 136.25 | -0.707% | |
S2 | 136.14 | -0.787% | ||
S3 | 135.92 | -0.95% |
IBB Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 21, 2024 | Mar 21, 2024 | Mar 27, 2024 | $0.126 | 0.0914% |
2 | Dec 19, 2023 | Dec 20, 2023 | Dec 27, 2023 | $0.124 | 0.0906% |
3 | Sep 25, 2023 | Sep 26, 2023 | Oct 02, 2023 | $0.153 | 0.127% |
4 | Jun 06, 2023 | Jun 07, 2023 | Jun 13, 2023 | $0.0060 | 0.0046% |
5 | Mar 22, 2023 | Mar 23, 2023 | Mar 29, 2023 | $0.0650 | 0.0508% |
FAQ
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