iShares MSCI Spain ETF Forecast
iShares MSCI Spain ETF upgraded to Strong Buy Candidate.
(Updated on May 08, 2024)
The iShares MSCI Spain ETF price gained 0.771% on the last trading day (Wednesday, 8th May 2024), rising from $32.42 to $32.67. It has now gained 5 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 0.399% from a day low at $32.55 to a day high of $32.68. The price has risen in 7 of the last 10 days and is up by 2.41% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 8 thousand more shares were traded than the day before. In total, 137 thousand shares were bought and sold for approximately $4.49 million.
The ETF lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 9.84% during the next 3 months and, with a 90% probability hold a price between $34.22 and $37.12 at the end of this 3-month period.
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EWP Signals & Forecast
Mostly positive signals in the chart today. The iShares MSCI Spain 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 $31.88 and $31.68. 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 7.61%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for iShares MSCI Spain ETF
iShares MSCI Spain finds support from accumulated volume at $31.88 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 $0.130 (0.399%) between high and low. For the last week, the ETF has had daily average volatility of 0.742%.
Our recommended stop-loss: $31.04 (-4.99%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 16 days ago.)
Trading Expectations (EWP) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect iShares MSCI Spain ETF to open at $32.63, and during the day (based on 14 day Average True Range), to move between $32.25 and $33.09, which gives a possible trading interval of +/-$0.420 (+/-1.29%) up or down from last closing price. If iShares MSCI Spain ETF takes out the full calculated possible swing range there will be an estimated 2.57% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $31.88, some $0.790 (2.42%) from the current price of $32.67, our system finds the risk reward attractive.
Is iShares MSCI Spain ETF ETF A Buy?
iShares MSCI Spain holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.228 Strong Buy Candidate Upgraded
Predicted Opening Price for iShares MSCI Spain ETF of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| $32.63 ( 0.112%) | $32.67 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EWP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 32.76 | 0.286 % | |
| R2 | 32.71 | 0.134 % | ||
| R1 | 32.68 | 0.0398 % | ||
| Current price: | 32.67 | |||
| Support | S1 | 32.58 | -0.264 % | |
| S2 | 32.55 | -0.358 % | ||
| S3 | 32.50 | -0.510 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 32.67 | |||
| Support | S1 | 31.88 | -2.42% | |
| S2 | 30.95 | -5.26% | ||
| S3 | 29.55 | -9.55% |
EWP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 20, 2023 | Dec 20, 2023 | Dec 20, 2023 | $0.475 | 1.58% |
| 2 | Nov 28, 2022 | Jun 07, 2023 | Jun 13, 2023 | $0.352 | 1.28% |
| 3 | Dec 13, 2021 | Dec 13, 2022 | Dec 19, 2022 | $0.371 | 1.57% |
| 4 | Dec 13, 2021 | Jun 09, 2022 | Jun 15, 2022 | $0.372 | 1.60% |
| 5 | Dec 16, 2020 | Dec 13, 2021 | Dec 17, 2021 | $0.435 | 1.76% |
FAQ
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