iShares S&P Global Clean Energy Index ETF Forecast
iShares S&P Global Clean Energy Index ETF downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on May 10, 2024)
The iShares S&P Global Clean Energy Index ETF price fell by -0.789% on the last day (Friday, 10th May 2024) from $13.95 to $13.84. During the last trading day the ETF fluctuated 2.02% from a day low at $13.84 to a day high of $14.12. The price has risen in 7 of the last 10 days and is up by 4.61% over the past 2 weeks. Volume has increased on the last day by 102 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, 2 million shares were bought and sold for approximately $28.36 million.
The ETF lies the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $13.92 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the ETF is expected to fall -5.54% during the next 3 months and, with a 90% probability hold a price between $12.11 and $13.15 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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ICLN Signals & Forecast
The iShares S&P Global Clean Energy Index 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 $13.84 and $13.58. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -0.86%. Further fall is indicated until a new bottom pivot has been found. 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 S&P Global Clean Energy Index ETF
iShares S&P Global Clean Energy Index finds support from accumulated volume at $13.83 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 $0.280 (2.02%) between high and low. For the last week, the ETF has had daily average volatility of 1.19%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ICLN) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect iShares S&P Global Clean Energy Index Fund to open at $13.93, and during the day (based on 14 day Average True Range), to move between $13.58 and $14.10, which gives a possible trading interval of +/-$0.261 (+/-1.88%) up or down from last closing price. If iShares S&P Global Clean Energy Index Fund takes out the full calculated possible swing range there will be an estimated 3.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $13.85 (0.07%) than the support at $13.83 (0.07%), 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 S&P Global Clean Energy Index Fund ETF A Buy?
iShares S&P Global Clean Energy Index 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: -1.636 Sell Candidate Downgraded
Predicted Opening Price for iShares S&P Global Clean Energy Index Fund of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $13.93 ( 0.674%) | $13.84 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ICLN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.21 | 2.70 % | |
| R2 | 14.11 | 1.92 % | ||
| R1 | 14.04 | 1.45 % | ||
| Current price: | 13.84 | |||
| Support | S1 | 13.83 | -0.0985 % | |
| S2 | 13.76 | -0.576 % | ||
| S3 | 13.65 | -1.35 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.51 | 4.84 % | |
| R2 | 13.91 | 0.506 % | ||
| R1 | 13.85 | 0.0723 % | ||
| Current price | 13.84 | |||
| Support | S1 | 13.83 | -0.0723% | |
| S2 | 13.74 | -0.723% | ||
| S3 | 13.23 | -4.41% |
ICLN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 20, 2023 | Dec 20, 2023 | Dec 27, 2023 | $0.123 | 0.785% |
| 2 | Jun 06, 2023 | Jun 07, 2023 | Jun 13, 2023 | $0.125 | 0.668% |
| 3 | Dec 12, 2022 | Dec 13, 2022 | Dec 19, 2022 | $0.0360 | 0.178% |
| 4 | Jun 08, 2022 | Jun 09, 2022 | Jun 15, 2022 | $0.140 | 0.750% |
| 5 | Dec 29, 2021 | Dec 30, 2021 | Jan 05, 2022 | $0.0120 | 0.0599% |
FAQ
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