Ishares Stoxx Europe 600 Oil & Gas Ucits ETF Forecast

Ishares Stoxx Europe 600 Oil & Gas Ucits ETF downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on Jun 28, 2024)

EXH1.F Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 2.89%. 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). Ishares Stoxx Europe 600 Oil & Gas Ucits has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Ishares Stoxx Europe 600 Oil & Gas Ucits 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 37.59€. On a fall, the ETF will find some support from the short-term average at 37.26€. 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 Stoxx Europe 600 Oil & Gas Ucits ETF

Ishares Stoxx Europe 600 Oil & Gas Ucits finds support from accumulated volume at 37.21€ 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 with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved 0.350€ between high and low, or 0.94%. For the last week the ETF has had daily average volatility of 1.13%.

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

Trading Expectations (EXH1.F) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Ishares Stoxx Europe 600 Oil & Gas Ucits Etf (de) to open at 37.44€, and during the day (based on 14 day Average True Range), to move between 36.96€ and 37.84€, which gives a possible trading interval of +/-0.438€ (+/-1.17%) up or down from last closing price. If Ishares Stoxx Europe 600 Oil & Gas Ucits Etf (de) takes out the full calculated possible swing range there will be an estimated 2.34% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at 37.21€ (0.52%) than the resistance at 37.86€ (1.23%), 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 Stoxx Europe 600 Oil & Gas Ucits Etf (de) ETF A Buy?

Ishares Stoxx Europe 600 Oil & Gas Ucits 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: -1.564 Sell Candidate Downgraded

Predicted Opening Price for Ishares Stoxx Europe 600 Oil & Gas Ucits Etf (de) of Monday, July 1, 2024

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