iShares MSCI Emerging Markets Asia Index ETF Forecast
iShares MSCI Emerging Markets Asia Index ETF downgraded from Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on Apr 26, 2024)
The iShares MSCI Emerging Markets Asia Index ETF price gained 1.24% on the last trading day (Friday, 26th Apr 2024), rising from $67.91 to $68.75. It has now gained 5 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 0.526% from a day low at $68.43 to a day high of $68.79. The price has risen in 6 of the last 10 days and is up by 2.1% over the past 2 weeks. Volume fell on the last day by -90 thousand shares and in total, 29 thousand shares were bought and sold for approximately $1.99 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 6.46% during the next 3 months and, with a 90% probability hold a price between $70.41 and $74.97 at the end of this 3-month period.
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EEMA Signals & Forecast
The iShares MSCI Emerging Markets Asia Index ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $67.22 and $67.90. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely. 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 Tuesday, April 09, 2024, and so far it has fallen -1.11%. 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 MSCI Emerging Markets Asia Index ETF
iShares MSCI Emerging Markets Asia Index finds support from accumulated volume at $68.73 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 $0.360 between high and low, or 0.526%. For the last week the ETF has had daily average volatility of 0.89%.
Our recommended stop-loss: $66.24 (-3.66%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (EEMA) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect iShares MSCI Emerging Markets Asia Index Fund to open at $68.66, and during the day (based on 14 day Average True Range), to move between $67.94 and $69.56, which gives a possible trading interval of +/-$0.81 (+/-1.17%) up or down from last closing price. If iShares MSCI Emerging Markets Asia Index Fund takes out the full calculated possible swing range there will be an estimated 2.35% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $68.73 (0.03%) than the resistance at $68.91 (0.23%), 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 MSCI Emerging Markets Asia Index Fund ETF A Buy?
iShares MSCI Emerging Markets Asia Index holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.627 Hold/Accumulate Downgraded
Predicted Opening Price for iShares MSCI Emerging Markets Asia Index Fund of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
$68.66 ( 0.136%) | $68.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EEMA
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 69.02 | 0.388 % | |
R2 | 68.88 | 0.188 % | ||
R1 | 68.79 | 0.0643 % | ||
Current price: | 68.75 | |||
Support | S1 | 68.52 | -0.336 % | |
S2 | 68.43 | -0.459 % | ||
S3 | 68.30 | -0.659 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 69.52 | 1.12 % | |
R2 | 68.92 | 0.247 % | ||
R1 | 68.91 | 0.233 % | ||
Current price | 68.75 | |||
Support | S1 | 68.73 | -0.0291% | |
S2 | 67.42 | -1.93% | ||
S3 | 64.95 | -5.53% |
EEMA Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Dec 20, 2023 | Dec 20, 2023 | Dec 27, 2023 | $0.629 | 0.96% |
2 | Jun 06, 2023 | Jun 07, 2023 | Jun 13, 2023 | $0.314 | 0.467% |
3 | Dec 12, 2022 | Dec 13, 2022 | Dec 19, 2022 | $0.785 | 1.24% |
4 | Jun 08, 2022 | Jun 09, 2022 | Jun 15, 2022 | $0.345 | 0.502% |
5 | Dec 10, 2021 | Dec 13, 2021 | Dec 17, 2021 | $1.68 | 2.07% |
FAQ
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