iShares Asia Trust - iShares Core S&P Stock Forecast
iShares Asia Trust - iShares Core S&P stock downgraded to Sell Candidate
(Updated on May 03, 2024)
The iShares Asia Trust - iShares Core S&P stock price fell by -1.22% on the last day (Friday, 3rd May 2024) from HK$39.40 to HK$38.92. During the last trading day the stock fluctuated 1.90% from a day low at HK$38.90 to a day high of HK$39.64. The price has risen in 5 of the last 10 days and is up by 1.2% over the past 2 weeks. Volume has increased on the last day by 33 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, 54 thousand shares were bought and sold for approximately HK$2.09 million.
The stock 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 Asia Trust - iShares Core S&P stock with a 90% probability to be traded between HK$38.62 and HK$40.22 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 stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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2836.HK Signals & Forecast
There are few to no technical positive signals at the moment. The iShares Asia Trust - iShares Core S&P stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at HK$39.22 and HK$38.93. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 30, 2024, and so far it has fallen -1.62%. Further fall is indicated until a new bottom pivot has been found. 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 stock should be followed more closely.
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 3.05% to HK$40.11 within 13 trading days since signal was issued (Monday, May 06, 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$38.82 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$0.740 between high and low, or 1.90%. For the last week the stock has had daily average volatility of 0.96%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (2836.HK) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect iShares Asia Trust - iShares Core S&P BSE SENSEX India Index ETF to open at HK$39.15, and during the day (based on 14 day Average True Range), to move between HK$38.50 and HK$39.34, which gives a possible trading interval of +/-HK$0.419 (+/-1.08%) 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 2.15% 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$38.96 (0.10%) than the support at HK$38.82 (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 negative signals and is within a narrow and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -2.161 Sell Candidate Downgraded
Predicted Opening Price for iShares Asia Trust - iShares Core S&P BSE SENSEX India Index ETF of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| HK$39.15 ( 0.600%) | HK$38.92 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2836.HK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 39.89 | 2.50 % | |
| R2 | 39.61 | 1.77 % | ||
| R1 | 39.44 | 1.33 % | ||
| Current price: | 38.92 | |||
| Support | S1 | 38.87 | -0.127 % | |
| S2 | 38.70 | -0.576 % | ||
| S3 | 38.41 | -1.30 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 39.20 | 0.719 % | |
| R2 | 39.10 | 0.462 % | ||
| R1 | 38.96 | 0.103 % | ||
| Current price | 38.92 | |||
| Support | S1 | 38.82 | -0.257% | |
| S2 | 38.80 | -0.308% | ||
| S3 | 38.72 | -0.514% |
2836 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 23, 2019 | Dec 23, 2019 | Dec 23, 2019 | HK$0.0200 | 0.0756% |
FAQ
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