Ishares China Cny Govt Bond Ucits Etf ETF Forecast
Ishares China Cny Govt Bond Ucits Etf ETF downgraded to Sell Candidate
(Updated on Jun 27, 2024)
The Ishares China Cny Govt Bond Ucits Etf ETF price gained 0.0823% on the last trading day (Thursday, 27th Jun 2024), rising from 4.86€ to 4.86€. 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 0.0823% from a day low at 4.86€ to a day high of 4.86€. The price has risen in 7 of the last 10 days and is up by 0.29% over the past 2 weeks.
The ETF is at the lower part of a narrow and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at 4.85€ will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Ishares China Cny Govt Bond Ucits Etf ETF with a 90% probability to be traded between 4.84€ and 4.92€ 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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CGBI.AS Signals & Forecast
There are mixed signals in the ETF today. The Ishares China Cny Govt Bond Ucits 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 4.88€. On a fall, the ETF will find some support from the short-term average at 4.86€. 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). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 0.316%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for Ishares China Cny Govt Bond Ucits Etf ETF
Ishares China Cny Govt Bond Ucits Etf finds support from accumulated volume at 4.86€ 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 0.0040€ between high and low, or 0.0823%. For the last week the ETF has had daily average volatility of 0.0280%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CGBI.AS) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Ishares China Cny Govt Bond Ucits Etf to open at 4.86€, and during the day (based on 14 day Average True Range), to move between 4.86€ and 4.87€, which gives a possible trading interval of +/-0.0066€ (+/-0.14%) up or down from last closing price. If Ishares China Cny Govt Bond Ucits Etf takes out the full calculated possible swing range there will be an estimated 0.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 4.86€ (0.12%) than the resistance at 4.89€ (0.63%), 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 China Cny Govt Bond Ucits Etf ETF A Buy?
Ishares China Cny Govt Bond Ucits Etf 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 Hold/Accumulate to a Sell candidate.
Current score: -1.227 Sell Candidate Downgraded
Predicted Opening Price for Ishares China Cny Govt Bond Ucits Etf of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| 4.86€ ( 0.0274%) | 4.86€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CGBI.AS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.87 | 0.0548% |
| R2 | 4.87 | 0.0234% |
| R1 | 4.86 | 0.0040% |
| Price | 4.86 | |
| S1 | 4.86 | -0.0588% |
| S2 | 4.86 | -0.0782% |
| S3 | 4.86 | -0.110% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.90 | 0.82% |
| R2 | 4.90 | 0.783% |
| R1 | 4.89 | 0.629% |
| Price | 4.86 | |
| S1 | 4.86 | -0.115% |
| S2 | 4.86 | -0.138% |
| S3 | 4.86 | -0.167% |
FAQ
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