iShares MSCI New Zealand ETF Forecast

iShares MSCI New Zealand ETF upgraded to Buy Candidate.
(Updated on May 03, 2024)

ENZL Signals & Forecast

The iShares MSCI New Zealand 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 $44.71 and $44.95. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 4.05%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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. The ETF had a Golden Star Signal on Wednesday, April 03, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Wednesday, March 06, 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.

Support, Risk & Stop-loss for iShares MSCI New Zealand ETF

iShares MSCI New Zealand finds support from accumulated volume at $45.15 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 $0.328 between high and low, or 0.721%. For the last week the ETF has had daily average volatility of 1.17%

Our recommended stop-loss: $43.58 (-4.73%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 13 days ago.)

Trading Expectations (ENZL) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect iShares MSCI New Zealand ETF to open at $45.75, and during the day (based on 14 day Average True Range), to move between $45.10 and $46.40, which gives a possible trading interval of +/-$0.651 (+/-1.42%) up or down from last closing price. If iShares MSCI New Zealand ETF takes out the full calculated possible swing range there will be an estimated 2.85% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $45.77 (0.04%) than the support at $45.15 (1.31%), 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 MSCI New Zealand ETF ETF A Buy?

Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Buy candidate.

Current score: 1.128 Buy Candidate Upgraded

Predicted Opening Price for iShares MSCI New Zealand ETF of Monday, May 6, 2024

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