iShares Equal Weight Banc & Lifeco ETF Forecast
Evaluation of iShares Equal Weight Banc & Lifeco ETF downgraded after the last trading session.
(Updated on May 10, 2024)
The iShares Equal Weight Banc & Lifeco ETF price gained 0.112% on the last trading day (Friday, 10th May 2024), rising from $17.85 to $17.87. During the last trading day the ETF fluctuated 0.112% from a day low at $17.87 to a day high of $17.89. The price has risen in 6 of the last 10 days and is up by 1.07% 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, 2 thousand more shares were traded than the day before. In total, 2 thousand shares were bought and sold for approximately $38.62 thousand.
The ETF 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 Equal Weight Banc & Lifeco ETF with a 90% probability to be traded between $17.66 and $18.09 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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CEW Signals & Forecast
The iShares Equal Weight Banc & Lifeco 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 $17.86 and $17.74. 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). iShares Equal Weight Banc & Lifeco 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. The very low volume increases the risk and reduces the other technical signals issued. 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, May 06, 2024, and so far it has fallen -0.282%. Further fall is indicated until a new bottom pivot has been found. The ETF had a Golden Star Signal on Wednesday, February 28, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Thursday, May 02, 2024.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
Golden Star
The ETF had a Golden Star Signal on Wednesday, February 28, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Thursday, May 02, 2024.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
Golden Star 12 Months
The ETF had a Golden Star Signal on Wednesday, February 28, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Thursday, May 02, 2024.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
A sell signal from a double top formation was found on Monday, May 06, 2024 and based on theory for this formation the price should fall by -1.74% to $17.56 within 19 trading days since signal was issued (Monday, May 13, 2024).
Support, Risk & Stop-loss for iShares Equal Weight Banc & Lifeco ETF
iShares Equal Weight Banc & Lifeco finds support from accumulated volume at $17.80 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 $0.0200 between high and low, or 0.112%. For the last week the ETF has had daily average volatility of 0.0678%.
Our recommended stop-loss: $17.23 (-3.59%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (CEW) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect iShares Equal Weight Banc & Lifeco ETF to open at $17.88, and during the day (based on 14 day Average True Range), to move between $17.82 and $17.92, which gives a possible trading interval of +/-$0.0481 (+/-0.27%) up or down from last closing price. If iShares Equal Weight Banc & Lifeco ETF takes out the full calculated possible swing range there will be an estimated 0.54% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $17.88 (0.05%) than the support at $17.80 (0.42%), 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 Equal Weight Banc & Lifeco ETF ETF A Buy?
iShares Equal Weight Banc & Lifeco 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. 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 Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
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 Equal Weight Banc & Lifeco ETF of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $17.88 ( 0.0373%) | $17.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CEW
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.90 | 0.149 % | |
| R2 | 17.89 | 0.106 % | ||
| R1 | 17.88 | 0.0801 % | ||
| Current price: | 17.87 | |||
| Support | S1 | 17.87 | -0.0054 % | |
| S2 | 17.86 | -0.0319 % | ||
| S3 | 17.86 | -0.0746 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.91 | 0.218 % | |
| R2 | 17.88 | 0.0560 % | ||
| R1 | 17.88 | 0.0543 % | ||
| Current price | 17.87 | |||
| Support | S1 | 17.80 | -0.420% | |
| S2 | 17.76 | -0.608% | ||
| S3 | 17.67 | -1.12% |
CEW Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 22, 2023 | Dec 22, 2023 | Dec 22, 2023 | $0.360 | 2.01% |
| 2 | Jan 07, 2022 | Dec 23, 2022 | Dec 29, 2022 | $0.134 | 0.795% |
| 3 | Dec 18, 2020 | Dec 21, 2020 | Dec 24, 2020 | $0.118 | 0.641% |
| 4 | Feb 25, 2019 | Dec 23, 2019 | Dec 27, 2019 | $0.353 | 1.91% |
| 5 | Dec 21, 2018 | Dec 24, 2018 | Dec 28, 2018 | $0.338 | 1.87% |
FAQ
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