iShares Floating Rate Bond ETF Forecast
iShares Floating Rate Bond ETF upgraded to Hold/Accumulate.
(Updated on May 02, 2024)
No changes to the price of iShares Floating Rate Bond ETF on the last trading day (Thursday, 2nd May 2024). During the last trading day the ETF fluctuated 0.0393% from a day low at $50.88 to a day high of $50.90. The price has risen in 4 of the last 10 days but is still down by -0.27% for this period.
The ETF is at the lower part of a narrow and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $50.88 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect iShares Floating Rate Bond ETF with a 90% probability to be traded between $51.04 and $51.33 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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FLOT Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has fallen 0%. 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). The volume rose on the last day while price remained unchanged. This may be an early warning and 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 Floating Rate Bond ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $51.01 and $50.97. A break-up above any of these levels will issue buy signals. The ETF had a Golden Star Signal on Monday, December 11, 2023 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.
Golden Star 12 Months
The ETF had a Golden Star Signal on Monday, December 11, 2023 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 Floating Rate Bond ETF
iShares Floating Rate Bond finds support from accumulated volume at $50.87 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 $0.0200 between high and low, or 0.0393%. For the last week the ETF has had daily average volatility of 0.0628%.
Our recommended stop-loss: $46.94 (-7.74%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (FLOT) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect iShares Floating Rate Bond ETF to open at $50.89, and during the day (based on 14 day Average True Range), to move between $50.83 and $50.93, which gives a possible trading interval of +/-$0.0509 (+/-0.10%) up or down from last closing price. If iShares Floating Rate Bond ETF takes out the full calculated possible swing range there will be an estimated 0.20% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $50.87 (0.02%) than the resistance at $51.02 (0.28%), 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 Floating Rate Bond ETF ETF A Buy?
iShares Floating Rate Bond 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. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.612 Hold/Accumulate Upgraded
Predicted Opening Price for iShares Floating Rate Bond ETF of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $50.89 ( 0.0131%) | $50.88 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FLOT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 50.91 | 0.0524 % | |
| R2 | 50.90 | 0.0374 % | ||
| R1 | 50.89 | 0.0281 % | ||
| Current price: | 50.88 | |||
| Support | S1 | 50.88 | -0.0019 % | |
| S2 | 50.87 | -0.0112 % | ||
| S3 | 50.87 | -0.0262 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 51.06 | 0.354 % | |
| R2 | 51.04 | 0.314 % | ||
| R1 | 51.02 | 0.275 % | ||
| Current price | 50.88 | |||
| Support | S1 | 50.87 | -0.0197% | |
| S2 | 50.84 | -0.0786% | ||
| S3 | 50.82 | -0.118% |
FLOT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 01, 2024 | Apr 01, 2024 | Apr 05, 2024 | $0.256 | 0.503% |
| 2 | Mar 01, 2024 | Mar 01, 2024 | Mar 07, 2024 | $0.241 | 0.475% |
| 3 | Feb 01, 2024 | Feb 01, 2024 | Feb 07, 2024 | $0.259 | 0.511% |
| 4 | Dec 14, 2023 | Dec 14, 2023 | Dec 14, 2023 | $0.253 | 0.501% |
| 5 | Dec 01, 2023 | Dec 01, 2023 | Dec 01, 2023 | $0.252 | 0.498% |
FAQ
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