Ishares Ftse China A50 Etf ETF Forecast
Ishares Ftse China A50 Etf ETF price ended at HK$11.58 on Friday, after gaining 0.260%.
(Updated on Jun 28, 2024)
The Ishares Ftse China A50 Etf ETF price gained 0.260% on the last trading day (Friday, 28th Jun 2024), rising from HK$11.55 to HK$11.58. During the last trading day the ETF fluctuated 0.608% from a day low at HK$11.51 to a day high of HK$11.58. The price has risen in 5 of the last 10 days but is still down by -0.6% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 60 thousand more shares were traded than the day before. In total, 60 thousand shares were bought and sold for approximately HK$695.96 thousand.
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 HK$11.53 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Ishares Ftse China A50 Etf ETF with a 90% probability to be traded between HK$11.70 and HK$12.45 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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82823.HK Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has risen 0.521%. Further rise is indicated until a new top pivot has been found. Ishares Ftse China A50 Etf has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Ishares Ftse China A50 Etf 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 HK$11.86. On a fall, the ETF will find some support from the short-term average at HK$11.58. 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).
Support, Risk & Stop-loss for Ishares Ftse China A50 Etf ETF
Ishares Ftse China A50 Etf finds support from accumulated volume at HK$11.56 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 HK$0.0700 between high and low, or 0.608%. For the last week the ETF has had daily average volatility of 0.539%.
Our recommended stop-loss: HK$10.84 (-6.39%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 23 days ago.)
Trading Expectations (82823.HK) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Ishares Ftse China A50 Etf to open at HK$11.56, and during the day (based on 14 day Average True Range), to move between HK$11.50 and HK$11.66, which gives a possible trading interval of +/-HK$0.0850 (+/-0.73%) up or down from last closing price. If Ishares Ftse China A50 Etf takes out the full calculated possible swing range there will be an estimated 1.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at HK$11.56 (0.17%) than the resistance at HK$11.91 (2.85%), 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 Ftse China A50 Etf ETF A Buy?
Ishares Ftse China A50 Etf 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.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Ishares Ftse China A50 Etf of Tuesday, July 2, 2024
| Fair opening price July 2, 2024 | Current price |
|---|---|
| HK$11.56 ( 0.201%) | HK$11.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 82823.HK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.63 | 0.403% |
| R2 | 11.60 | 0.172% |
| R1 | 11.58 | 0.0294% |
| Price | 11.58 | |
| S1 | 11.53 | -0.432% |
| S2 | 11.51 | -0.575% |
| S3 | 11.49 | -0.81% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 12.10 | 4.49% |
| R2 | 12.04 | 3.97% |
| R1 | 11.91 | 2.85% |
| Price | 11.58 | |
| S1 | 11.56 | -0.173% |
| S2 | 11.54 | -0.345% |
| S3 | 11.52 | -0.518% |
FAQ
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