iShares Asia Trust - iShares Core S&P Stock Forecast

Stronger technical forecast for iShares Asia Trust - iShares Core S&P stock price after Thursday trading.
(Updated on Apr 25, 2024)

2836.HK Signals & Forecast

The iShares Asia Trust - iShares Core S&P stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock 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 HK$38.77 and HK$38.96. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 2.20%. 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). iShares Asia Trust - iShares Core S&P gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Tuesday, April 16, 2024 and based on theory for this formation the price should go up by 2.68% to HK$40.11 within 13 trading days since signal was issued (Friday, April 26, 2024).

Support, Risk & Stop-loss for iShares Asia Trust - iShares Core S&P stock

iShares Asia Trust - iShares Core S&P finds support from accumulated volume at HK$38.96 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved HK$0.200 between high and low, or 0.513%. For the last week the stock has had daily average volatility of 1.06%.

Our recommended stop-loss: HK$37.31 (-4.47%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)

Trading Expectations (2836.HK) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect iShares Asia Trust - iShares Core S&P BSE SENSEX India Index ETF to open at HK$39.09, and during the day (based on 14 day Average True Range), to move between HK$38.64 and HK$39.48, which gives a possible trading interval of +/-HK$0.419 (+/-1.07%) up or down from last closing price. If iShares Asia Trust - iShares Core S&P BSE SENSEX India Index ETF takes out the full calculated possible swing range there will be an estimated 2.14% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at HK$39.10 (0.10%) than the support at HK$38.96 (0.26%), 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 Asia Trust - iShares Core S&P BSE SENSEX India Index ETF stock A Buy?

iShares Asia Trust - iShares Core S&P 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 stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.264 Hold/Accumulate Upgraded

Predicted Opening Price for iShares Asia Trust - iShares Core S&P BSE SENSEX India Index ETF of Friday, April 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.