iShares MSCI All Country Asia ex Japan ETF Forecast
Stronger technical forecast for iShares MSCI All Country Asia ex Japan ETF price after Tuesday trading.
(Updated on Jul 02, 2024)
The iShares MSCI All Country Asia ex Japan ETF price gained 0.554% on the last trading day (Tuesday, 2nd Jul 2024), rising from $72.15 to $72.55. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 0.81% from a day low at $71.97 to a day high of $72.56. The price has fallen in 6 of the last 10 days but is still up by 0.46% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 79 thousand more shares were traded than the day before. In total, 437 thousand shares were bought and sold for approximately $31.71 million.
The ETF lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 8.54% during the next 3 months and, with a 90% probability hold a price between $76.35 and $82.88 at the end of this 3-month period.
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AAXJ Signals & Forecast
The iShares MSCI All Country Asia ex Japan 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 $72.07 and $71.91. 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). Volume is rising along with the price. This is considered to be a good technical signal. 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 Friday, May 17, 2024, and so far it has fallen -1.23%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for iShares MSCI All Country Asia ex Japan ETF
iShares MSCI All Country Asia ex Japan finds support from accumulated volume at $70.33 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 $0.585 between high and low, or 0.81%. For the last week the ETF has had daily average volatility of 0.666%.
Our recommended stop-loss: $69.45 (-4.28%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 50 days ago.)
Trading Expectations (AAXJ) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect iShares MSCI All Country Asia ex Japan Index Fund to open at $72.36, and during the day (based on 14 day Average True Range), to move between $71.91 and $73.19, which gives a possible trading interval of +/-$0.639 (+/-0.88%) up or down from last closing price. If iShares MSCI All Country Asia ex Japan Index Fund takes out the full calculated possible swing range there will be an estimated 1.76% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $72.59 (0.06%) than the support at $70.33 (3.06%), 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 MSCI All Country Asia ex Japan Index Fund ETF A Buy?
iShares MSCI All Country Asia ex Japan holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.442 Strong Buy Candidate Upgraded
Predicted Opening Price for iShares MSCI All Country Asia ex Japan Index Fund of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $72.36 ( 0.264%) | $72.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AAXJ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 72.94 | 0.542% |
| R2 | 72.72 | 0.234% |
| R1 | 72.58 | 0.0439% |
| Price | 72.55 | |
| S1 | 72.13 | -0.572% |
| S2 | 72.00 | -0.763% |
| S3 | 71.77 | -1.07% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 73.45 | 1.24% |
| R2 | 73.11 | 0.772% |
| R1 | 72.59 | 0.0551% |
| Price | 72.55 | |
| S1 | 70.33 | -3.06% |
| S2 | 70.20 | -3.24% |
| S3 | 68.24 | -5.94% |
AAXJ Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 20, 2023 | Dec 20, 2023 | Dec 27, 2023 | $0.793 | 1.21% |
| 2 | Jun 06, 2023 | Jun 07, 2023 | Jun 13, 2023 | $0.397 | 0.581% |
| 3 | Dec 12, 2022 | Dec 13, 2022 | Dec 19, 2022 | $0.787 | 1.21% |
| 4 | Jun 08, 2022 | Jun 09, 2022 | Jun 15, 2022 | $0.337 | 0.484% |
| 5 | Dec 10, 2021 | Dec 13, 2021 | Dec 17, 2021 | $1.55 | 1.90% |
FAQ
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