iShares MSCI Australia ETF Forecast

iShares MSCI Australia ETF price up 0.214% on Wednesday
(Updated on May 01, 2024)

EWA Signals & Forecast

The iShares MSCI Australia 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 $23.65 and $24.09. 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). 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 0.645%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. The ETF had a Golden Star Signal on Monday, May 08, 2023 in the long-term chart.

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 Australia ETF

iShares MSCI Australia finds support from accumulated volume at $23.37 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This ETF is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the ETF moved $0.435 (1.87%) between high and low. For the last week, the ETF has had daily average volatility of 1.28%.

Our recommended stop-loss: $21.95 (-6.16%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 11 days ago.)

Trading Expectations (EWA) For The Upcoming Trading Day Of Thursday 2nd

For the upcoming trading day on Thursday, 2nd we expect iShares MSCI Australia ETF to open at $23.46, and during the day (based on 14 day Average True Range), to move between $23.05 and $23.73, which gives a possible trading interval of +/-$0.340 (+/-1.45%) up or down from last closing price. If iShares MSCI Australia ETF takes out the full calculated possible swing range there will be an estimated 2.91% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $23.37 (0.09%) than the resistance at $23.63 (1.03%), 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 Australia 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: 2.709 Buy Candidate Unchanged

Predicted Opening Price for iShares MSCI Australia ETF of Thursday, May 2, 2024

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