Ishares Euro Stoxx 50 Ucits Etf ETF Forecast

Ishares Euro Stoxx 50 Ucits Etf ETF downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on Jun 21, 2024)

EUN2.F Signals & Forecast

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. The Ishares Euro Stoxx 50 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 51.37€. On a fall, the ETF will find some support from the short-term average at 50.29€. 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. A sell signal was issued from a pivot top point on Thursday, June 20, 2024, and so far it has fallen -0.89%. Further fall is indicated until a new bottom pivot has been found. 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.

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Thursday, May 02, 2024 and based on theory for this formation the price should go up by 2.17% to 51.42€ within 10 trading days since signal was issued (Thursday, May 16, 2024).

Support, Risk & Stop-loss for Ishares Euro Stoxx 50 Ucits Etf ETF

Ishares Euro Stoxx 50 Ucits Etf finds support from accumulated volume at 50.16€ 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 0.480€ between high and low, or 0.96%. For the last week the ETF has had daily average volatility of 0.92%

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (EUN2.F) For The Upcoming Trading Day Of Monday 24th

For the upcoming trading day on Monday, 24th we expect Ishares Euro Stoxx 50 Ucits Etf to open at 50.40€, and during the day (based on 14 day Average True Range), to move between 49.73€ and 50.93€, which gives a possible trading interval of +/-0.604€ (+/-1.20%) up or down from last closing price. If Ishares Euro Stoxx 50 Ucits Etf takes out the full calculated possible swing range there will be an estimated 2.40% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at 50.16€ (0.34%) than the resistance at 51.55€ (2.42%), 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 Euro Stoxx 50 Ucits Etf ETF A Buy?

Ishares Euro Stoxx 50 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: -4.122 Sell Candidate Downgraded

Predicted Opening Price for Ishares Euro Stoxx 50 Ucits Etf of Monday, June 24, 2024

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