iShares Global Water Index ETF Forecast

Green day on Friday for iShares Global Water Index ETF after gaining 0.775%
(Updated on May 31, 2024)

CWW.TO Signals & Forecast

The iShares Global Water Index ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $57.56. On a fall, the ETF will find some support from the long-term average at approximately $56.68. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. iShares Global Water Index 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. Higher liquidity also reduces the general risk. 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 Wednesday, May 22, 2024, and so far it has fallen -3.67%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for iShares Global Water Index ETF

On the downside, the ETF finds support just below today's level from accumulated volume at $54.10 and $53.96. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, iShares Global Water Index finds support just below today's level at $54.10. If this is broken, then the next support from accumulated volume will be at $53.96 and $53.51.

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 $0.630 between high and low, or 1.11%. For the last week the ETF has had daily average volatility of 0.90%.

Our recommended stop-loss: $54.37 (-5.03%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 31 days ago.)

Trading Expectations (CWW.TO) For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect iShares Global Water Index ETF to open at $57.04, and during the day (based on 14 day Average True Range), to move between $56.74 and $57.76, which gives a possible trading interval of +/-$0.508 (+/-0.89%) up or down from last closing price. If iShares Global Water Index ETF takes out the full calculated possible swing range there will be an estimated 1.77% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $58.05 (1.40%) than the support at $54.10 (5.50%), 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 Global Water Index ETF ETF A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for iShares Global Water Index ETF to perform well in the short-term.

Current score: 2.705 Buy Candidate Unchanged

Predicted Opening Price for iShares Global Water Index ETF of Monday, June 3, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.