iShares Commodity Curve Carry Strategy ETF Forecast
Weaker technical forecast for iShares Commodity Curve Carry Strategy as ETF downgraded to Sell Candidate.
(Updated on Jun 25, 2024)
The iShares Commodity Curve Carry Strategy ETF price fell by -0.83% on the last day (Tuesday, 25th Jun 2024) from $21.74 to $21.56. During the last trading day the ETF fluctuated 0.697% from a day low at $21.53 to a day high of $21.68. The price has risen in 6 of the last 10 days and is up by 1.55% 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 -9 thousand shares and in total, 8 thousand shares were bought and sold for approximately $180.33 thousand.
The ETF is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect iShares Commodity Curve Carry Strategy ETF with a 90% probability to be traded between $20.35 and $21.51 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. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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CCRV Signals & Forecast
The iShares Commodity Curve Carry Strategy 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 $21.54 and $21.45. 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 -0.83%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk.
A sell signal from a double top formation was found on Tuesday, May 28, 2024 with a target of $21.80. Despite whether the objective of the signal formation has been reached the ETF may continue to fall.
Support, Risk & Stop-loss for iShares Commodity Curve Carry Strategy ETF
iShares Commodity Curve Carry Strategy finds support from accumulated volume at $21.54 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved $0.150 between high and low, or 0.697%. For the last week the ETF has had daily average volatility of 0.763%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CCRV) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect iShares Commodity Curve Carry Strategy ETF to open at $21.59, and during the day (based on 14 day Average True Range), to move between $21.33 and $21.79, which gives a possible trading interval of +/-$0.230 (+/-1.07%) up or down from last closing price. If iShares Commodity Curve Carry Strategy 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 support from accumulated volume at $21.54 (0.09%) than the resistance at $21.79 (1.07%), 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 Commodity Curve Carry Strategy ETF ETF A Buy?
iShares Commodity Curve Carry Strategy holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF. 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 Sell candidate.
Current score: -1.515 Sell Candidate Downgraded
Predicted Opening Price for iShares Commodity Curve Carry Strategy ETF of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $21.59 ( 0.139%) | $21.56 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CCRV
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 21.74 | 0.83% |
| R2 | 21.68 | 0.569% |
| R1 | 21.65 | 0.405% |
| Price | 21.56 | |
| S1 | 21.53 | -0.127% |
| S2 | 21.50 | -0.291% |
| S3 | 21.44 | -0.557% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 21.91 | 1.62% |
| R2 | 21.89 | 1.53% |
| R1 | 21.79 | 1.07% |
| Price | 21.56 | |
| S1 | 21.54 | -0.0928% |
| S2 | 21.25 | -1.44% |
| S3 | 20.95 | -2.83% |
CCRV Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 20, 2023 | Dec 20, 2023 | Dec 20, 2023 | $1.43 | 7.16% |
| 2 | Dec 14, 2021 | Dec 13, 2022 | Dec 19, 2022 | $6.67 | 34.27% |
| 3 | Dec 10, 2021 | Dec 13, 2021 | Dec 17, 2021 | $5.90 | 27.23% |
FAQ
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