Ishares Stoxx Europe 600 Industrial ETF Forecast
Evaluation of Ishares Stoxx Europe 600 Industrial ETF downgraded after the last trading session.
(Updated on Jun 28, 2024)
The Ishares Stoxx Europe 600 Industrial ETF price fell by -0.199% on the last day (Friday, 28th Jun 2024) from 85.35€ to 85.18€. During the last trading day the ETF fluctuated 0.81% from a day low at 84.96€ to a day high of 85.65€. The price has been going up and down for this period, and there has been a -0.35% loss for the last 2 weeks. Volume has increased on the last day by 20 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 21 thousand shares were bought and sold for approximately 1.77€ million.
Given the current short-term trend, the ETF is expected to rise 3.67% during the next 3 months and, with a 90% probability hold a price between 88.31€ and 93.82€ at the end of this 3-month period.
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EXH4.F Signals & Forecast
There are few to no technical positive signals at the moment. The Ishares Stoxx Europe 600 Industrial 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 86.02€ and 87.48€. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 27, 2024, and so far it has fallen -4.57%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.
Support, Risk & Stop-loss for Ishares Stoxx Europe 600 Industrial ETF
Ishares Stoxx Europe 600 Industrial finds support from accumulated volume at 84.73€ 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 0.690€ between high and low, or 0.81%. For the last week the ETF has had daily average volatility of 1.08%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EXH4.F) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Ishares Stoxx Europe 600 Industrial Goods & Services Ucits Etf (de) to open at 85.26€, and during the day (based on 14 day Average True Range), to move between 84.08€ and 86.28€, which gives a possible trading interval of +/-1.10€ (+/-1.29%) up or down from last closing price. If Ishares Stoxx Europe 600 Industrial Goods & Services Ucits Etf (de) takes out the full calculated possible swing range there will be an estimated 2.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 84.73€ (0.53%) than the resistance at 85.87€ (0.81%), 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 Industrial Goods & Services Ucits Etf (de) ETF A Buy?
The Ishares Stoxx Europe 600 Industrial ETF holds several negative signals and despite the positive trend, we believe Ishares Stoxx Europe 600 Industrial will perform weakly in the next couple of days or weeks. Therefore, we 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 Buy to a Sell candidate.
Current score: -2.260 Sell Candidate Downgraded
Predicted Opening Price for Ishares Stoxx Europe 600 Industrial Goods & Services Ucits Etf (de) of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| 85.26€ ( 0.0978%) | 85.18€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EXH4.F
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 85.95 | 0.91% |
| R2 | 85.69 | 0.598% |
| R1 | 85.53 | 0.407% |
| Price | 85.18 | |
| S1 | 85.00 | -0.212% |
| S2 | 84.84 | -0.403% |
| S3 | 84.57 | -0.712% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 89.26 | 4.79% |
| R2 | 88.10 | 3.43% |
| R1 | 85.87 | 0.81% |
| Price | 85.18 | |
| S1 | 84.73 | -0.528% |
| S2 | 84.30 | -1.03% |
| S3 | 83.06 | -2.49% |
FAQ
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