Ishares Stoxx Europe 600 ETF Forecast

Ishares Stoxx Europe 600 ETF downgraded from Buy Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Jun 25, 2024)

EXV2.F Signals & Forecast

There are mixed signals in the ETF today. A sell signal was issued from a pivot top point on Wednesday, June 05, 2024, and so far it has fallen -1.27%. 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). Ishares Stoxx Europe 600 gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The Ishares Stoxx Europe 600 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 19.56€ and 19.41€. A breakdown below any of these levels will issue sell signals. The ETF had a Golden Star Signal on Monday, March 25, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.

Support, Risk & Stop-loss for Ishares Stoxx Europe 600 ETF

Ishares Stoxx Europe 600 finds support from accumulated volume at 19.43€ 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 0.148€ between high and low, or 0.752%. For the last week the ETF has had daily average volatility of 0.644%.

Our recommended stop-loss: 18.94€ (-3.92%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 49 days ago.)

Trading Expectations (EXV2.F) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Ishares Stoxx Europe 600 Telecommunications Ucits Etf (de) to open at 19.74€, and during the day (based on 14 day Average True Range), to move between 19.55€ and 19.87€, which gives a possible trading interval of +/-0.161€ (+/-0.81%) up or down from last closing price. If Ishares Stoxx Europe 600 Telecommunications Ucits Etf (de) takes out the full calculated possible swing range there will be an estimated 1.63% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 19.71€ (0.02%) than the support at 19.43€ (1.41%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Ishares Stoxx Europe 600 Telecommunications Ucits Etf (de) ETF A Buy?

Ishares Stoxx Europe 600 holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. 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 Hold/Accumulate candidate.

Current score: 0.633 Hold/Accumulate Downgraded

Predicted Opening Price for Ishares Stoxx Europe 600 Telecommunications Ucits Etf (de) of Wednesday, June 26, 2024

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