iShares Convertible Bond Index ETF Forecast
Red day on Thursday for iShares Convertible Bond Index
(Updated on Apr 18, 2024)
The iShares Convertible Bond Index ETF price fell by -0.122% on the last day (Thursday, 18th Apr 2024) from $16.37 to $16.35. During the last trading day the ETF fluctuated 0.0612% from a day low at $16.34 to a day high of $16.35. The price has fallen in 6 of the last 10 days and is down by -0.18% for this period. 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 -5 thousand shares and in total, 900 shares were bought and sold for approximately $14.72 thousand.
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 $16.32 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect iShares Convertible Bond Index ETF with a 90% probability to be traded between $16.47 and $17.04 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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CVD.TO Signals & Forecast
The iShares Convertible Bond Index ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $16.42 and $16.45. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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. The very low volume increases the risk and reduces the other technical signals issued. Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.184%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for iShares Convertible Bond Index ETF
iShares Convertible Bond Index finds support from accumulated volume at $16.30 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 $0.0100 between high and low, or 0.0612%. For the last week the ETF has had daily average volatility of 0.244%
Our recommended stop-loss: $15.35 (-6.09%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (CVD.TO) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect iShares Convertible Bond Index ETF to open at $16.35, and during the day (based on 14 day Average True Range), to move between $16.26 and $16.44, which gives a possible trading interval of +/-$0.0869 (+/-0.53%) up or down from last closing price. If iShares Convertible Bond Index ETF takes out the full calculated possible swing range there will be an estimated 1.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $16.37 (0.12%) than the support at $16.30 (0.31%), 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 Convertible Bond Index ETF ETF A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
Current score: 1.345 Buy Candidate Unchanged
Predicted Opening Price for iShares Convertible Bond Index ETF of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $16.35 ( 0.0204%) | $16.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CVD.TO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.36 | 0.0408 % | |
| R2 | 16.35 | 0.0174 % | ||
| R1 | 16.35 | 0.0030 % | ||
| Current price: | 16.35 | |||
| Support | S1 | 16.34 | -0.0438 % | |
| S2 | 16.34 | -0.0582 % | ||
| S3 | 16.34 | -0.0815 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.49 | 0.86 % | |
| R2 | 16.41 | 0.367 % | ||
| R1 | 16.37 | 0.122 % | ||
| Current price | 16.35 | |||
| Support | S1 | 16.30 | -0.306% | |
| S2 | 16.23 | -0.734% | ||
| S3 | 16.19 | -0.98% |
CVD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 22, 2024 | Mar 22, 2024 | Mar 28, 2024 | $0.0760 | 0.461% |
| 2 | Feb 23, 2024 | Feb 23, 2024 | Feb 29, 2024 | $0.0730 | 0.444% |
| 3 | Jan 25, 2024 | Jan 25, 2024 | Jan 31, 2024 | $0.0750 | 0.462% |
| 4 | Dec 28, 2023 | Dec 28, 2023 | Dec 28, 2023 | $0.0750 | 0.464% |
| 5 | Nov 21, 2023 | Nov 21, 2023 | Nov 21, 2023 | $0.0750 | 0.505% |
FAQ
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