iShares Nasdaq Biotechnology Index Fund ETF Forecast
iShares Nasdaq Biotechnology Index Fund ETF downgraded to Hold/Accumulate
(Updated on Jun 25, 2024)
The iShares Nasdaq Biotechnology Index Fund ETF price fell by -0.307% on the last day (Tuesday, 25th Jun 2024) from $139.96 to $139.53. During the last trading day the ETF fluctuated 1.06% from a day low at $139.39 to a day high of $140.87. The price has fallen in 6 of the last 10 days but is still up by 1.89% over the past 2 weeks. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -675 thousand shares and in total, 1 million shares were bought and sold for approximately $184.77 million.
The ETF lies in the upper part of a weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $140.08 will firstly indicate a stronger rate of rising. Given the current short-term trend, the ETF is expected to rise 5.38% during the next 3 months and, with a 90% probability hold a price between $136.95 and $147.62 at the end of this 3-month period.
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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. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $136.97 and $135.87. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, June 24, 2024, and so far it has fallen -0.307%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. 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 $137.34 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 $1.48 between high and low, or 1.06%. For the last week the ETF has had daily average volatility of 1.16%.
Our recommended stop-loss: $134.12 (-3.88%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 46 days ago.)
Trading Expectations (IBB) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect iShares Nasdaq Biotechnology Index Fund to open at $139.93, and during the day (based on 14 day Average True Range), to move between $137.61 and $141.45, which gives a possible trading interval of +/-$1.92 (+/-1.38%) 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 2.76% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $139.96 (0.31%) than the support at $137.34 (1.57%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
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. 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: 0.479 Hold/Accumulate Downgraded
Predicted Opening Price for iShares Nasdaq Biotechnology Index Fund of Wednesday, June 26, 2024
Fair opening price June 26, 2024 | Current price |
---|---|
$139.93 ( 0.287%) | $139.53 |
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 | |
---|---|---|
R3 | 141.41 | 1.35% |
R2 | 140.84 | 0.94% |
R1 | 140.50 | 0.692% |
Price | 139.53 | |
S1 | 139.36 | -0.119% |
S2 | 139.02 | -0.369% |
S3 | 138.45 | -0.774% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 0 | - |
R1 | 139.96 | 0.308% |
Price | 139.53 | |
S1 | 137.34 | -1.57% |
S2 | 132.51 | -5.03% |
S3 | 130.65 | -6.36% |
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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