iShares MSCI Japan ETF Forecast

iShares MSCI Japan ETF upgraded to Buy Candidate.
(Updated on May 02, 2024)

EWJ Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 2.98%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The iShares MSCI Japan 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 $69.24. On a fall, the ETF will find some support from the short-term average at $67.41. 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.

Support, Risk & Stop-loss for iShares MSCI Japan ETF

iShares MSCI Japan finds support from accumulated volume at $67.63 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 $0.630 (0.93%) between high and low. For the last week, the ETF has had daily average volatility of 0.98%.

Our recommended stop-loss: $65.10 (-4.92%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 9 days ago.)

Trading Expectations (EWJ) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect iShares MSCI Japan ETF to open at $68.33, and during the day (based on 14 day Average True Range), to move between $67.60 and $69.34, which gives a possible trading interval of +/-$0.87 (+/-1.27%) up or down from last closing price. If iShares MSCI Japan ETF takes out the full calculated possible swing range there will be an estimated 2.55% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $67.63 (1.23%) than the resistance at $69.60 (1.65%), 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 Japan ETF ETF A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for iShares MSCI Japan 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: 2.826 Buy Candidate Upgraded

Predicted Opening Price for iShares MSCI Japan ETF of Friday, May 3, 2024

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