iShares MSCI Australia ETF Forecast
iShares MSCI Australia ETF upgraded to Buy Candidate.
(Updated on May 16, 2024)
The iShares MSCI Australia ETF price gained 0.440% on the last trading day (Thursday, 16th May 2024), rising from $25.02 to $25.13. It has now gained 4 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 0.439% from a day low at $25.10 to a day high of $25.21. The price has risen in 7 of the last 10 days and is up by 5.41% over the past 2 weeks. Volume fell on the last day by -105 thousand shares and in total, 1 million shares were bought and sold for approximately $31.12 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 has broken the horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $24.91 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the ETF is predicted to reach $26.53 sometime during the next 3 months.
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EWA Signals & Forecast
Mostly positive signals in the chart today. The iShares MSCI Australia ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $24.69 and $24.16. 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 8.13%. 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). 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.
Support, Risk & Stop-loss for iShares MSCI Australia ETF
iShares MSCI Australia finds support from accumulated volume at $24.66 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 $0.110 (0.439%) between high and low. For the last week, the ETF has had daily average volatility of 0.743%.
Our recommended stop-loss: $23.95 (-4.69%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 22 days ago.)
Trading Expectations (EWA) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect iShares MSCI Australia ETF to open at $25.15, and during the day (based on 14 day Average True Range), to move between $24.84 and $25.42, which gives a possible trading interval of +/-$0.293 (+/-1.17%) 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 2.33% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $24.66, some $0.470 (1.87%) from the current price of $25.13, our system finds the risk reward attractive.
Is iShares MSCI Australia ETF ETF A Buy?
Several short-term signals are positive and the ETF has broken the horizontal trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for iShares MSCI Australia ETF to perform well in the short-term period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 4.069 Buy Candidate Upgraded
Predicted Opening Price for iShares MSCI Australia ETF of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| $25.15 ( 0.0662%) | $25.13 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EWA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 25.26 | 0.504 % | |
| R2 | 25.21 | 0.337 % | ||
| R1 | 25.19 | 0.234 % | ||
| Current price: | 25.13 | |||
| Support | S1 | 25.10 | -0.101 % | |
| S2 | 25.08 | -0.205 % | ||
| S3 | 25.04 | -0.372 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 25.13 | |||
| Support | S1 | 24.66 | -1.87% | |
| S2 | 24.35 | -3.10% | ||
| S3 | 24.12 | -4.02% |
EWA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 20, 2023 | Dec 20, 2023 | Dec 20, 2023 | $0.488 | 2.06% |
| 2 | Nov 28, 2022 | Jun 07, 2023 | Jun 13, 2023 | $0.417 | 1.83% |
| 3 | Dec 14, 2021 | Dec 13, 2022 | Dec 19, 2022 | $0.430 | 1.94% |
| 4 | Dec 14, 2021 | Jun 09, 2022 | Jun 15, 2022 | $0.743 | 3.43% |
| 5 | Dec 30, 2021 | Dec 30, 2021 | Dec 30, 2021 | $0.219 | 0.88% |
FAQ
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